Live Nation Responds To Murat Controversy

Live Nation’s Rick Franks has issued a statement denying accusations that the company acted in bad faith when it entered into a naming rights agreement for Murat Centre:

“The allegations contained in the Shriners’ lawsuit against Live Nation and Old National Bank are false and in violation of the lease between the Shriners and Live Nation.

“In 1995 / 1996 Live Nation’s predecessor was asked to help the Shriners restore the Murat from its decaying condition. Live Nation’s predecessor invested in excess of $10M to improve the condition of the venue and committed to bring quality events to the venue. In exchange the Shriners entered into the lease which granted Live Nation a wide array of rights including, among others, the right to promote concerts and theater shows in the venue, the right to sell sponsorships at the venue and the right to rename the center provided that the theater portion of the center continued to include the name Murat Theatre along with any sponsor name.

“Over the last 12 years during the lease Live Nation (including its predecessor) has invested over $30M in the promotion of over 2,100 events in the center, hosting millions of patrons and providing quality entertainment and generating significant revenues to the community.

“The Shriners recent attacks and allegations that Live Nation acted in violation of the contract are false and will be quickly proven so in a court of law. Their attacks against Old National are in bad faith as Old National has done nothing more than attempt to continue its tradition of community service. In lieu of lawsuits, ambushing press conferences and false accusations, the Shriners should review the lease and pick up the phone and talk to their tenant.

“We hope to get this matter resolved quickly and allow the venue to go back to its operations and serving the community without these unwarranted distractions.”