Broomfield Picks Peak

After months of negotiations, a management deal for the 7,100-capacity Broomfield Event Center in Colorado was greenlighted Aug. 25.

Peak Entertainment, a joint venture of AEG Live and Kroenke Sports Enterprises, was selected by city officials to manage the facility in a three-year deal, according to the Boulder Daily Camera.

Under terms of the agreement, Peak will schedule 55 events per year at the venue for the first three years, the paper said. The venue will also reportedly receive improvements up to $1 million and could get a new moniker in a naming-rights agreement.

While county manager George Di Ciero told the Camera the venue is projected to lose more than $120,000 in the first year of the deal, officials expect the Center could turn a $382,000 profit in the second year.