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Tough Times For Stockton Arena

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(Sacramento, CA)
Friday, April 2, 2010
The team suspended operations because of financial problems last year. That means even fewer events at Stockton’s financially-troubled arena. The city-owned facility has lost more than $9 million since it was opened in 2005. City spokeswoman Connie Cochran says officials are trying to stop the financial bleeding.
"We definitely are interested in restructuring the operations and management of the arena and we've hired a consultant to do that."
City leaders blame poor management for the money problems and they’re trying to figure out how to buy-out the arena’s manager – International Facilities Group. Newspaper Reporter David Siders has been covering the arena debacle for the Stockton Record:
“It will cost millions of dollars probably to buy out the contract. So that’s going to be touchy too, because the city doesn’t have millions of dollars.”
The arena is one of dozens around the country struggling under the weight of the recession.
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