High expectations

City leaders have high hopes for new arena manager SMG. And the global company has promised to deliver.

As noted in today’s story, Section 2.2 of its contract aims to temper those expectations a bit. An excerpt:

… SMG is to operate the Facilities in keeping with the management goals set each year pursuant to the annual Approved Budget, with the overarching goal of having the Arena Operating Revenues equal or exceed its Operating Expenses; provided, however, the City hereby acknowledges that it is highly possible that the Arena will not achieve such goal and that SMG is not responsible for the Arena not attaining such goal in any Fiscal Year. City recognizes that Operating Revenues for the Arena are incapable of being estimated with reasonable certainty given that the entertainment industry as a whole fluctuates based upon general economic conditions, current trends in entertainment, available income of patrons, competitive facilities and a variety of rapidly changing factors beyond the control of SMG. …

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