|Louisiana Maintains Continuity With SMG
Posted: June 17, 2011
NEW ORLEANS (CelebrityAccess MediaWire) -- SMG has managed to hold on to their management deal over the Superdome and New Orleans Arena, despite an effort by some Louisiana to open management of the venues to a competitive bidding process.
According to Arena Digest, proposed legislation that would have required a new bidding process over the venues was pulled on June 17th. SMG has operated the two venues for more than 30 years after a competitive bidding process, though the contract has bee automatically renewed since then. SMG's current contract now extends to 2017 under the same terms with a management fee set at $1.4 million.
Despite the proposed legislation, SMG has been well-regarded for their management of the two venues, particularly with overseeing the $225 million refurb required getting the Superdome up and running after Katrina and with their continued success in programming and aggressive cost reduction at the venues.
"(SMG) performs at a high level of expertise. Based on what they did after the devastation immediately following the hurricane (Katrina in 2005) and the continuing improvements that are taking place, the feeling of the The Louisiana Stadium and Exposition District (LSED) is that SMG is doing an outstanding job. We have met with the governor's officials, and we highly recommend that we continue to working with them." Ron Forman, chairman of the LSED told the The Times-Picayune. - CelebrityAccess Staff Writers