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Vanderburgh County approves wind-down of ASM management and paves way for VenueWorks takeover at Old National Events Plaza
Summary
The county approved a wind-down agreement with ASM for Old National Events Plaza management and agreed to a new management contract with VenueWorks that includes base pay, incentive fees and a performance kicker. Approval was delegated to legal, the auditor and the commission president to finalize outstanding financial reconciliation.
The Vanderburgh County Board of Commissioners on July 29 approved a wind-down agreement with ASM and moved to authorize a new management contract with VenueWorks to operate the Old National Events Plaza (ONEP), with final reconciliation delegated to county counsel, the auditor and President Elpers.
The wind-down vote, approved unanimously, directs county legal staff to reconcile outstanding amounts and close out ASM’s management role so a replacement manager can take over. County Attorney Mike Schottmeyer described the agreements as a “collaborative breakup” intended to avoid prolonged litigation while transitioning operations.
The commissioners then considered a management agreement proposed with VenueWorks. The contract would run through the existing term that ASM held (through 2027), with VenueWorks receiving $120,000 a year as base compensation, 5% of food-and-beverage sales, and an additional…
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