Gloom And Doom

PawSox Lease Payment Year 1 and Year 2: Pro-forma Versus Actual Lease

 Link to Proforma

 

Lease in 2021 and 2022 was tied to the Debt Service on the 28 million of Series B Bonds:

  • 2021    $1,315,225
  • 2022   $1.342,750 

 Total    $2,657,975

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In the signed lease on page 157

  • 2021   $32,171  (That's it!!!!)
  • 2022   $177,635

 Total  $209,806

That is a difference of  $2,448,169

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Keep in mind that this is amortized debt.

If your debt payment are $2,657,975 and the Worcester PawSox only pay $209,806.

Guess who makes up the difference???



 

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