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Courant: XL Center up for Sale soon, could Amazon or UConn buy it ?

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Hartford's XL Center May Be Put Up For Sale Soon

The XL Center arena could go on the block sooner than 2019, if the State Bond Commission approves $40 million for the aging sports and entertainment center in downtown Hartford.

The General *****embly approved the **nding last month for repairs and the purchase of the adjoining atrium as part of a two-year state budget. But lawmakers also included a provision that calls for seeking potential buyers by June, 2019.

Michael W. Freimuth, executive director of the Capital Region Development Authority, said the agency, which oversees the arena, is considering seeking buyers sooner.

“There is the thought that we should go sooner rather than later, remove the cloud, the anxiety over the **ture,” Freimuth said. “It’s more of a ‘let’s move the question.’ “

The $40 million is on the agenda for the State Bond Commission’s meeting on Nov. 29, the first commission meeting since May.

If the authority decides now is the time to seek a buyer, the move would come just as discussions begin for renewing contracts with the University of Connecticut, the American Hockey League and for naming rights, all sources of revenue for the arena.

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23 minutes ago, radcon said:

I'm in!!   I'll start with $1.00 down payment!!

 

 

Here is the thing John, UConn is swimming in money, they could easily buy the XL Center, and Amazon is probably 1,000 times richer than UConn, they could also easily buy the XL Center, there will be so much interest in purchasing it, it's the deal of a lifetime, a 16,000 seat arena that has gone through numerous mini-renovations over the past few years and has a brand new ice sheet and is within walking distance of a bus station, train station, college campus, baseball stadium, and a new soccer stadium nearby, once the NHL returns the arena is going to be a goldmine.  Just like the East Windsor cinemas, the place sat vacant for a decade with weeds in the parking lot, but now the land is a goldmine with the casino coming.

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1 hour ago, WhalerCentral said:

UConn is swimming in money, they could easily buy the XL Center

Whole point in selling XL Center is to get cost of renovating it and maintaining it and running it off of state of CT and city of Hartford books. To do that you need to sell XL Center to private investors. UConn is not private investor. UConn is public university that receives public **nding from state of CT to operate. UConn "buying" and "owning" and "operating" XL Center would just be state of CT owning and operating XL Center. Only difference is that state of CT would be paying to renovate and maintain and run XL Center under UConn's name. 

And Amazon second headquarters isn't coming to CT. Amazon second headquarters is going someplace like Atlanta, Pittsburgh, Boston, Baltimore, Philly or Chicago.       

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4 hours ago, jerseydiehardwhaler said:

It actually may be better for some investors to buy it.. the article also said that the 40 million could go towards making some improvements for the buyer, hmmmmm.. 

You need to read the article. It says that only a portion of that $40 million would go to any types of upgrade of the XL Center. Reports have come out that Northland wants around $30 million to $35 million for the atrium and the "shops". That doesn't leave a lot of extra money for anything "huge". If they think $5 million to $10 is enough for someone to want to buy the XL Center then why do they think it needs $250 million to stay open? I doubt anyone would want to buy it and then would be willing to spend an additional $200 million. 

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No one is buying that thing at least not anyone that will make it a top arena worthy of NHL.  

 

It won't sell or someone will buy and knock it down.  AHL fans will be going to Boost or Springy for their fix

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19 hours ago, WhalerCentral said:

Here is the thing John, UConn is swimming in money, they could easily buy the XL Center, and Amazon is probably 1,000 times richer than UConn, they could also easily buy the XL Center, there will be so much interest in purchasing it, it's the deal of a lifetime, a 16,000 seat arena that has gone through numerous mini-renovations over the past few years and has a brand new ice sheet and is within walking distance of a bus station, train station, college campus, baseball stadium, and a new soccer stadium nearby, once the NHL returns the arena is going to be a goldmine.  Just like the East Windsor cinemas, the place sat vacant for a decade with weeds in the parking lot, but now the land is a goldmine with the casino coming.

It will make a good parking lot!!

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16 hours ago, TrueHartfordHockeyFan said:

You need to read the article. It says that only a portion of that $40 million would go to any types of upgrade of the XL Center. Reports have come out that Northland wants around $30 million to $35 million for the atrium and the "shops". That doesn't leave a lot of extra money for anything "huge". If they think $5 million to $10 is enough for someone to want to buy the XL Center then why do they think it needs $250 million to stay open? I doubt anyone would want to buy it and then would be willing to spend an additional $200 million. 

I read it stupid, it says what I posted as well.. 40 million could possibly go towards some improvements a buyer would want 

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I was at Dead and Company last night and also was at Roger Waters. I also have been to 2 uconn hockey games and a uconn baksetball game this fall.

There are 2 things that will help profitability at the XL

1. Steal more and more concerts from Mohegan

2. Figure out a way to update the XL to have an upper and lower concourse

These concerts at the XL are filled with people who want to drink, eat, and park in hartford. And situations like last night 3 or 4 bars were having pre or post concert events for deadheads. Someone in the stands last night who was in the upper level like i was last night said "I would go to the XL over madison square garden again any day."

These concerts like Dead and Co, Roger Waters, Guns and Roses have a reach as far as Fairfiled county one way and in some cases southern Maine in another way (heard someone talking about driving down from Maine). And the ease and cheap price to get to and park in the XL makes it a great concert choice.

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23 minutes ago, Monizzle145 said:

I was at Dead and Company last night and also was at Roger Waters. I also have been to 2 uconn hockey games and a uconn baksetball game this fall.

There are 2 things that will help profitability at the XL

1. Steal more and more concerts from Mohegan

2. Figure out a way to update the XL to have an upper and lower concourse

These concerts at the XL are filled with people who want to drink, eat, and park in hartford. And situations like last night 3 or 4 bars were having pre or post concert events for deadheads. Someone in the stands last night who was in the upper level like i was last night said "I would go to the XL over madison square garden again any day."

These concerts like Dead and Co, Roger Waters, Guns and Roses have a reach as far as Fairfiled county one way and in some cases southern Maine in another way (heard someone talking about driving down from Maine). And the ease and cheap price to get to and park in the XL makes it a great concert choice.

Excellent post to send to legislators

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9 hours ago, Monizzle145 said:

I was at Dead and Company last night and also was at Roger Waters. I also have been to 2 uconn hockey games and a uconn baksetball game this fall.

There are 2 things that will help profitability at the XL

1. Steal more and more concerts from Mohegan

2. Figure out a way to update the XL to have an upper and lower concourse

These concerts at the XL are filled with people who want to drink, eat, and park in hartford. And situations like last night 3 or 4 bars were having pre or post concert events for deadheads. Someone in the stands last night who was in the upper level like i was last night said "I would go to the XL over madison square garden again any day."

These concerts like Dead and Co, Roger Waters, Guns and Roses have a reach as far as Fairfiled county one way and in some cases southern Maine in another way (heard someone talking about driving down from Maine). And the ease and cheap price to get to and park in the XL makes it a great concert choice.

On the money post been seeing that too it's a shame so many are so short sighted on the viability of the XL and the Market which reaches far and wixe

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One thing I thought was interesting about the article was the part where they said they were concerned with extending their contract with UConn to play at the XL Center. I thought they had a 20 year contract and a "guaranteed partnership" that was going to be announced? It sounds like they only have that 5 year contract that was originally signed and are working on a deal that would consist of a lower amount of games per year. That might be the case if they do build their arena on campus in the next year or two.

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They did have a five year 

They signed a letter of intent for additional 20 after the five year ends on condition that they make the building according to the plan by SCI.

 

Yes that's totally in jeopardy

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On 11/22/2017 at 1:47 PM, WhalerCentral said:

Here is the thing John, UConn is swimming in money, they could easily buy the XL Center, and Amazon is probably 1,000 times richer than UConn, they could also easily buy the XL Center, there will be so much interest in purchasing it, it's the deal of a lifetime, a 16,000 seat arena that has gone through numerous mini-renovations over the past few years and has a brand new ice sheet and is within walking distance of a bus station, train station, college campus, baseball stadium, and a new soccer stadium nearby, once the NHL returns the arena is going to be a goldmine.  Just like the East Windsor cinemas, the place sat vacant for a decade with weeds in the parking lot, but now the land is a goldmine with the casino coming.

Why would Amazon buy the XL Center? ?They are not going to build their HQ2 in a business unfriendly state like Connecticut. I wish it wasn't a business unfriendly state, but if the state gives them breaks to locate, the taxpayers will be upset and why not give businesses that are in Connecticut tax breaks. 

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TWF, don't pay any attention to Frank, he's been dropped on his head about 50 times too many.

Amazon is probably not moving here, and if by some miracle, they DO move here, they're not buying the XL Center.

UConn is not buying the XL Center either.  That notion is more ridiculous than Amazon buying it.

 

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On 11/27/2017 at 9:59 AM, MarkH2919 said:

TWF, don't pay any attention to Frank, he's been dropped on his head about 50 times too many.

Amazon is probably not moving here, and if by some miracle, they DO move here, they're not buying the XL Center.

UConn is not buying the XL Center either.  That notion is more ridiculous than Amazon buying it.

 

 

On 11/27/2017 at 9:59 AM, MarkH2919 said:

TWF, don't pay any attention to Frank, he's been dropped on his head about 50 times too many.

Amazon is probably not moving here, and if by some miracle, they DO move here, they're not buying the XL Center.

UConn is not buying the XL Center either.  That notion is more ridiculous than Amazon buying it.

 

Very True..MarkH

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