City to Vote on Deal to Subsidize Grizzlies, Share in Profits

The Fresno City Council is expected to vote on Dec. 17 on a complex deal to prop up the struggling Fresno Grizzlies, which have apparently lost nearly $3 million over the past four years.  The Grizzlies pay $1.5 million per year to lease Chukchansi Park, which the city uses to help fund the $3.5 million per year payment on the bond that was issued to build the new stadium.  Under the proposal, the Grizzlies’ rent would remain the same, but the team would receive a hefty subsidy and share its profits with the city.  Read more here.

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Filed under Lease & Contracts, Money & Financials, Stadium Issues

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