Evansville Icemen Attorneys have a contract proposal in hand from the City for a new lease at The Ford Center.
The Icemen’s lease is almost up and the city and the team have until December 1st to finalize the details.
Owner Ron Geary says he pays the highest rent in the Eastern Conference Hockey League and lost more than two million dollars in the business venture.
If a lease agreement doesn’t happen by December first the Icemen will not play their 2016-2017 season at the Ford Center.
According to President of the Redevelopment Commission, Randy Alsman, the new contract is simplified from the current 35 page contract.
Alsman says the city wanted to simplify the contract and have it be financially neutral for both parties.
In the new contract Geary will receive a portion of all food, beverage and alcohol sales.
Geary says he pays upwards of $650,000 a year in rent to the city but that number could be disputed after Geary receives rebates.
In 2014-2015, Geary paid about $396,000 in rent but the city paid back $417,000 in rebates according to Alsman.
The new contract is based on attendance and should significantly reduce rent for the Icemen. According to Geary, the Icemen are amongst the top ten for attendance in the ECHL. The contract could be signed today, 44 news will continue to follow this story and any developments from the negotiations.