Kenney Gives Up Box At Wells Fargo Center To Raise Money For City Schools
PHILADELPHIA (CBS) -- The city has cut a deal to give up the Mayor's Suite for Sixers and Flyers games to raise money for Philadelphia schools.
Under the agreement, Comcast-Spectacor will give the city $100,000 a year for three years for the Mayor's Suite at Sixers and Flyers games at the Wells Fargo Center. Comcast-Spectacor would then get to resell those seats. The money would go to the Fund for the School District of Philadelphia - the district's nonprofit fundraising arm. Mayor Kenney during his campaign, hoped to raise $1 million a year by selling seats in its sports luxury boxes. The mayor's deputy chief of staff Vaughn Ross says this deal is a start.
"While a million dollars seems like a lofty goal," Ross said, "I come from the standpoint than any additional dollars that we have for the district is a positive thing."
And the nonprofit Fund could get more for non-Sixers and Flyers events.
"Revenue from those other events like concerts, we'll also receive an additional portion of that," Ross explained. "But the $100,000 is guaranteed."
Ross says the city is finalizing an agreement with the Eagles. But he says legal complications may not allow a similar deal at Citizens Bank Park for Phillies games.
"There are some complexities with the venue itself at Citizens Bank [Park]," Ross said. "Some of the bond structuring there doesn't necessarily allow us to monetize it in the same way."
