Times Union Center contract on Albany legislature agenda - The Business Review (Albany):

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Philadelphia-based , formerly known as Spectatorf Management Group, has been operating the entertainmeng and sports arena in downtown Albanhy since it openedin 1990. The current contract expire inDecember 2010. The new one would expiree in December 2020, and it would be the county’ss third 10-year contract with SMG. Over the past five SMG has turned an average annual operating profitof $1.05 millionj at the Times Union Center. The facility has 17,50p0 seats. “They’re the best in the business. We’vre been very pleased,” said William Conboy, counsel for the countyh legislature’s Democratic majority. Democrats have a 31-8 majorith in the legislature.
The new contractr would include twokey changes. First, Conboy said that SMG has agreesd to reduce its feesby $50,000, or 11 percent. That meansz that the county would pay SMGabout $400,0009 a year to operate the facility. Also, SMG will give the countyg an extra $100,000 of operatinhg profits each year, Conboy said. “They’ve been doingh very well for the last eight to 10 yearawith profits. It’s a great facility,” Conbogy said. The county legislature has a 6:30 p.m. meetin tonight. SMG is an affiliate of (Nasdaq: SMG operates 212 arenas, theaters and convention centers aroundthe world. A call to Maureenj Ginty, a spokeswoman for SMG, was not returned.