Saga of a city, an arena and a lease (nope, not where you think)

http://www.recordnet.com/apps/pbcs....rdnetNewsHeadlines+(Recordnet+News+Headlines)

The home of the ECHL Stockton Thunder is owned by the city and has been operated by IFG. The arena lost $2m in 2009, $9m over five years.

City thinks that the reason for losses is lack of booking events. So, they're buying out the IFG contract ($1.3m from special fund, $1m from next management company, SMG), and putting together a financial-incentive deal.

The city is also anticipating that there will be a $1.7m loss in the first year of the deal.