PawSox $6,000,000 Equity Contribution

 This is one of our questions yesterday.   The PawSox were suppose to make a cash contribution of $3,000,000 in December of 2019 and then again in December of 2020.    These payments have not been made.

 

We found out that the equity contribution can be cash and/or direct purchases.      

"The equity contribution is allowed to be cash and/or direct purchases. If you look at Exhibit F of the lease, you can see that the direct purchases made by the team has a current total of $11.4 million".

  

Now look at Exhibit F.  Click here....    

 

    •  TPM    579,808
    • Graphic  & Art Consultants    495,000
    • Tenant FF & E   2,863,995
    •  Sponsor Signage & Artwork   864,330
    • Scoreboard/Video System   2,100,000
    • WiFI system    1,172,880
    • Pre-Fab Summit Street Structure    867,400
    • Kitchen & Foodservice equipment   2,480,498
    • Total =   11,423,911

 

We got to ask.. 

Are all these expenses part of the ballpark construction or should some of these simply be carrying costs that the tenant has to pay; for example, sponsor signage and artwork???   


 


 

 

Comments

Anonymous said…
I’m betting that the sponsors paid for their own signs and artwork.