More Concerts Could Help Glendale Pay Down Arena Debt
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Acclaimed rap artist Kendrick Lamar will launch a 17-city tour this summer at Gila River Arena, where big musical acts could provide more revenue to help Glendale pay off hundreds of millions owed on the venue.
It’s been almost a year since AEG Facilities took over management of Gila River Arena from the Arizona Coyotes. Glendale pays the company millions to run the venue, but their contract includes revenue sharing.
Hosting more non-hockey events gives Glendale a chance to get money back for the first time in the venue’s history, said Dale Adams, general manager of Gila River Arena.
“The fact is we believe we’ll be giving money back to the city, and that’s a good thing,” Adams said. “Kendrick Lamar helps because it elevates the stature of the venue. It elevates the stature of the area.”
AEG has booked about 30 non-hockey events at Gila River Arena so far, Adams said.
Glendale continues to pay off more than $200 million in debt and interest on the venue.
