3601
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FedExForum non-compete clause
Elvis Presley Enterprises has filed a declaratory judgment action in Chancery Court in an attempt to avoid the non-compete clause.
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| 11-15-2017 02:36 PM |
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Latilleon
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RE: FedExForum non-compete clause
The non-compete clause only works with city/county owned venues.
If Elvis Presley Enterprises built an arena, then it would not be subject to it. The question is if maybe the city isn’t offering tax breaks and/or incentives that would infer city ownership.
Has the Grizz org blocked events at AZP now that it is city owned?
(This post was last modified: 11-15-2017 02:42 PM by Latilleon.)
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| 11-15-2017 02:41 PM |
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salukiblue
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RE: FedExForum non-compete clause
(11-15-2017 02:41 PM)Latilleon Wrote: The non-compete clause only works with city/county owned venues.
If Elvis Presley Enterprises built an arena, then it would not be subject to it. The question is if maybe the city isn’t offering tax breaks and/or incentives that would infer city ownership.
Has the Grizz org blocked events at AZP now that it is city owned?
Has to been enclosed facilities.
That's why the MSC, at some point, was considering the half-baked idea of taking the dome off and making it some open air venue.
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| 11-15-2017 03:15 PM |
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salukiblue
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RE: FedExForum non-compete clause
The non-compete clause applies to ALL indoor or covered facilities, arenas, etc., that could compete with the Forum for bookings. The non-compete clause controls which TYPE of event may be booked. The ONLY events in which a promoter has a choice of venue are "Excluded Events" and certain "Local Community Events" that produce less than $5,000 in revenue. See image #1 (Definition of terms) and image #3 (part2 of section 30b) for more details about Excluded and Local Community events.
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| 11-15-2017 03:18 PM |
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Latilleon
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RE: FedExForum non-compete clause
(11-15-2017 03:18 PM)salukiblue Wrote: The non-compete clause applies to ALL indoor or covered facilities, arenas, etc., that could compete with the Forum for bookings. The non-compete clause controls which TYPE of event may be booked. The ONLY events in which a promoter has a choice of venue are "Excluded Events" and certain "Local Community Events" that produce less than $5,000 in revenue. See image #1 (Definition of terms) and image #3 (part2 of section 30b) for more details about Excluded and Local Community events.
Doesn’t apply to privately owned venues though. The Orpheum isn’t subject to it while Cannon is.
U of M facilities are exempt.
(This post was last modified: 11-15-2017 03:57 PM by Latilleon.)
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| 11-15-2017 03:56 PM |
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Latilleon
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RE: FedExForum non-compete clause
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| 11-15-2017 06:38 PM |
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TIGERCITY
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RE: FedExForum non-compete clause
(11-15-2017 02:36 PM)3601 Wrote: Elvis Presley Enterprises has filed a declaratory judgment action in Chancery Court in an attempt to avoid the non-compete clause.
Sounds like EPE is contending that the venue will show only EPE produced events that would not otherwise be produced. EPE also contends that what they are proposing is similar to the proposed Fairgrounds project, which has approval.
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| 11-15-2017 08:00 PM |
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FedExForum non-compete clause
