Saratoga PAC In Black

The Saratoga Performing Arts Center in Saratoga Springs, N.Y., – home to the New York City Ballet’s July residency – has one year of new leadership and its first financial surplus in 15 years.

The organization recorded a $112,000 profit for last year, up from a $2.3 million debt accumulated the previous four years, according to The Saratogan. SPAC Chairman William Dake told attendees at the venue’s annual membership meeting that no deal has been reached to keep the ballet past 2006 but negotiations were under way.

The audience was also told there was an agreement with venue promoter Live Nation, which gives SPAC $1 million annually and has booked nearly two dozen events for this summer. Once attendance reaches 200,000, SPAC reportedly gets an extra $3 for every person, according to the paper.

“We’ve only hit that bonus situation once in the past six years,” SPAC CEO Richard Geary said. “If attendance reaches 225,000 that will give us an extra $75,000.”

This year’s season has two Dave Matthews Band concerts on the books, Bruce Springsteen, CSN&Y and Nine Inch Nails, among others.

The increase in rock concerts has apparently compensated for the financial burden of the ballet, which has been beset with a lack of drawing power and the expensive contractual agreement to use a full orchestra at all performances.

The 25,000-capacity shed is expected to receive major improvements beginning in September, including new seats, lighting, a sound board, recessed cables and improved drainage, the Saratogan said.