Venue Detail
Victoria Royals
RSV Pro Facilities Report
March, 2013
Victoria Royals
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1925 Blanshard St Victoria, BC V8T 4J2 Phone: 250-220-2600 Fax: 250-220-7887 URL: www.salmonkings.com Owner: Graham Lee League: Western Hockey League, Western Conference, B.C. Division
Venue
Save On Foods Memorial Centre, 1925 Blanshard St, Victoria, BC V8T 4J2 Owner: RG Properties Managed by: Owner Built: 2006 Capacity: 7,000 Concessionaire: Aramark Suite caterer: Owner Soft drink:
Ticket prices
Season tickets range from $396 to $576 Single tickets range from $12.00 to $25.00
Attendance
2010 average attendance: 4,369 2011 average attendance: 3,717
Club seats
Quantity: 1,000 Price: $856 to $1,136
Financing
In 2003, Victoria voters approved a plan to build a new arena in partnership with RG Properties. The city will front the money for the building in a 30-year deal. RG Properties will pay CAN$1.1 million up front, then CAN$900,000 upon substantial completion of the building. The payment will give the company the right to operate the building for 10 years. After that, RG Properties will pay CAN$200,000 per year for those rights. The firm is also responsible for construction and operating cost overruns. RG Properties will operate the building, pay all maintenance costs and make payments to a capital improvement fund.
Seat licenses
Club seats will require a $250 annual license in addition to the season ticket price.
Work resumed in late 2005 on the Save On Foods Memorial Centre which stopped earlier when developer RG Properties put a CAN$4.8 million lien on the city saying it had not been paid for work it had done. About a dozen contractors said they had not been paid.
The arena contract allows the city to withhold a portion of payments to RG Properties until all the company's subcontractors have been paid. The City is also withholding about CAN$2.5 million in payments that will be used to complete the arena's restaurant and other features.
The delays in addressing the lien issue stemmed in part from claims made by subcontractors that RG Properties did not accept.
Under the terms of the agreement, RG will remove its liens against the city and commit CAN$1.5 million to pay subcontractors and suppliers. In return, the city will defer the remaining CAN$1 million of a CAN$2 million lease prepayment that RG owes the city under the terms of the contract. RG will have to repay the city with interest over the next five years.
The building was originally scheduled to open in 2004, but delays have pushed the opening to 2006. (Canada, Facilities, Financial, Ice Hockey, Professional Sports)