The Carolina Hurricanes’ lease at PNC Arena is up in five years and, as the News and Observer’s Luke DeCock wrote yesterday, the jockeying for position has already begun.
From DeCock:
Under the current arrangement, the Hurricanes pay the Centennial Authority $2.45 million in rent in return for use by the hockey team and the right to manage the arena, making money by booking concerts, conventions and the like. But the Hurricanes have never been able to generate the kind of profits envisioned operating the arena, in part because despite its growth Raleigh still isn’t at the same level as big-city metropolitan markets, in part because the team has struggled in recent years.