Predators Fudging Bridgestone Lease?

The NHL’s Nashville Predators are reportedly two years behind in filing statements of the team’s net worth, a violation of the team’s lease with Bridgestone Arena.

The reports are required to guarantee the city is able to recoup its investment should the team go under.

At the same time, the franchise’s sister company, Powers Management, has routinely charged a $2.50 facility fee on concert tickets, despite a stated cap of $2 for surcharges on “non-team events,” according to the Tennessean.

The Predators receive an approximately $8.8 million annual subsidy from the Metro Sports Authority under the terms of its lease, and Powers executives told the paper the additional 50 cents on the ticket surcharge raise $150,000 to $200,000 annually for the company to cover building maintenance since at least 2002.

The Predators are required to submit an annual statement of net worth to the sports authority every July to show the team is worth at least $50 million and able to repay Metro’s investment in Bridgestone Arena, according to the Tennessean. The sports authority was to begin discussing the issue Sept. 23.

“I want to be sure somebody is minding the store, that somebody is checking and being sure that our agreements are being followed and the taxpayers are being protected,” Metro Sports Authority member Steve North told the paper.