On Friday, Peterborough Mayor Daryl Bennett and Peterborough Petes President Dave Pogue signed the amended facility agreement between the City of Peterborough and the Petes.
The agreement was amended in principle on February 13 when Peterborough City Council approved By-law 17-009 concerning the creation of a new facility agreement between the Petes and the City. Since then, the Petes, led by Pogue, have worked diligently with City staff to complete the process.
“These funds will allow us to execute our strategic business plan effectively,” noted Pogue. “On the hockey side, this will help us stay competitive in this league.”
“We contribute approximately one million dollars to the City annually, and this agreement will allow us to retain some of that revenue and use it to invest more in our organization and this city.”
“This has been a long time coming,” added Mayor Bennett. “We’re very fortunate to have the right people around the table to get this done.”
“The Petes are important to the City and to the Ontario Hockey League. The City benefits greatly from this amendment.”
Some specific highlights of the agreement include:
- The Petes and City will share the cost of new screens on the existing videoboard, with the goal of enhancing fan experience
- The Petes’ operating expenses will be decreased by reducing fees the Petes pay in several ticket areas, and by altering the advertising revenue sharing model
- The Petes will receive 5% of gross revenues from food and beverage sales at Petes home games
- One-time contributions to the Petes to reduce operating costs
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