TU Letter 10/21/12: SPAC integral to region’s success
You decide – did SPAC or Jones Beach Amphitheater make a better deal with SXF (now Live Nation)
SPAC Summary -
- 10 years,
- Guarantee start at $750k up to $1 million,
- Bonus for attendance over 200,000 – $1.50 to $2.00 per ticket,
- Capital Contribution over 10 years – either $0 or $750K ?
Jones Beach Summary -
- 20 years,
- Guarantee $2.2 million, Addendum 1 – $2.35 million per annum to escalate each year by the less of (a) Consumer Price Index and (b) 5%; plus
- Bonus for attendance over 400,000 – $5.00 per ticket
- Capital Contribution – Minimum $1 million, Addendum 2 – Capital improvement investment of approximately $2,42 million in first three years















