As a taxpayer here in Oshkosh, I’ve already resigned myself to the idea that I’m going to own an arena someday. I’m not liking what I am seeing when it comes to news about the new Menominee Nation Arena. Slow ticket sales for concerts and shows, early management changes, postponement of events and a series of closed door meetings with the Common Council don’t fill me with a great deal of confidence in the future of the facility.
And then comes word that the arena slow-paid a considerable bill from the City for infrastructure work done around the site. Followed by filings that show not one but two mortgages being taken out against the building. The first mortgage–more than $13-million–is covering the shortfall in private financing that Fox Valley Pro Basketball thought they would be able to raise by selling stock in the arena prior to construction. That isn’t so unusual–nor is the fact that the financing was secured through the general contractor, Bayland Buildings. But it’s the second mortgage of $1.3-million taken out just last month that has me concerned. This has the looks of borrowing to meet continuing expenses kind of debt. And I have it on good authority from those doing business with the arena that slow-pay is the modus operandi.
Meanwhile, we await the “premier entertainment” aspect of the operation to kick in. No offense to Jeff Foxworthy and Larry the Cable Guy, but they aren’t exactly the hottest names in comedy right now. And Gladys Knight, Peter Cetera and .38 Special aren’t finding the ITunes Most Downloaded Chart anymore–which have been borne out by the aforementioned ticket sales.
But there are little things too, like the fact that the City still has not put up any directional signage for the arena. If you were a visitor coming from outside of the area (and you weren’t getting turn by turn directions from a GPS unit) what exit would you take along Interstate 41? The arena gets no mentions on any of the big green or blue signs. And once you are off the interstate, you will not find any street signs pointing you in the right direction.
I already own a convention center and an opera house. I used to own a golf course. And I’m pretty sure that someday I’m going to own an arena too.
