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Commission approves long-term amphitheater and stadium agreements, including $20M+ private contribution
Summary
The commission approved agreements that extend management and booking services for the new amphitheater and soccer stadium: a long-term management agreement with ASM Global, promotion/booking with Live Nation (including a reported $20 million capital contribution), and a purchase agreement moving Amway Stadium into the arena authority for construction/ownership.
Commissioners approved multiple agreements that the city says are necessary to finance, manage and operate a new amphitheater and the related soccer stadium.
The approved items were: (1) an agreement with ASM Global to provide management services to the amphitheater and stadium (longer than the CAA's five-year authority requires city and county approval); (2) a resolution authorizing the Kent County Convention and Arena Authority to contract with Live Nation for promotion and booking services for the Aquisure/Acreasure Amphitheater; and (3) a purchase agreement to transfer Amway Stadium from the Downtown Development Authority to the CAA for construction and management.
Staff said ASM Global currently manages Van Andel Arena and DeVos Place and that terms for the amphitheater and stadium extend that model. Live Nation will provide promotion and booking services and — according to the staff memo and discussion on the record — bring a capital contribution to construction of at least $20,000,000. "It's $20,000,000," a staff speaker confirmed during the meeting.
Commission discussion was procedural; the county commission had approved these items earlier in December, and commissioners asked no substantive follow-up questions at this meeting. All items passed by voice vote.
What’s next: The agreements allow CAA to complete financing and management arrangements and to proceed with construction-related transactions; staff will report further as contracts are executed.
