Coliseum Wrestles Debt

U.S. Cellular Coliseum in Bloomington, Ill., may be in debt and strapped for cash, but venue officials are determined to turn the financial situation around.

The 7,600-capacity coliseum opened in April 2006 and posted a $2.5 million operating deficit last year. It is projected to lose another $1.6 million this year, according to the Journal Star of Peoria.

Bloomington City Council members met May 21st with John Butler and Mike Nelson of Central Illinois Arena Management, the company that runs the facility. The group discussed what led to the enormous shortfall when original estimates projected a $765,000 profit, the paper said.

"By and large, this coliseum was sold by many people saying this thing can and will break even," mayor Steve Stockton said. "That undoubtedly was wrong, and I think we need to admit that."

Venue GM Nelson told the council that much of the losses were from first-year startup costs and unrealistic revenue and attendance projections.

"We basically went in with no historical data of how the building operates. Now we know better," he said.

Nelson added there are plans to bring in more events to the $37 million facility and beef up attendance at Bloomington Extreme arena football and Bloomington PrairieThunder hockey games, according to the Journal Star.

The council also decided to form an oversight committee to monitor the venue on a monthly basis.

Concerts on the books so far include Foreigner and Styx June 24th, and Ted Nugent August 5th.

Pollstar’s attempt to reach a management representative was unsuccessful at press time.