After months of negotiations, Concord City Council is
considering a new and improved contract with the company that manages the Sleep
The city was dissatisfied with the way Live Nation Entertainment Inc. ran the venue and began interviewing new management companies earlier this year.
Three companies were invited to submit written proposals that contained an operational plan to the city. Live Nation and Nederlander sent one in. The City Manager decided in September that Live Nation’s plan was the best, according to public records.
“During the City’s negotiations with Live Nation, its leadership has demonstrated a renewed commitment to the Pavilion facility and the City of Concord; consequently, Live Nation has agreed to a contract that includes a significant upfront financial investment in the facility,” reads a staff report prepared by City Manager Valerie Barone for Tuesday’s City Council meeting.
The new contract promises that Live Nation will give the City of Concord $800,000 plus an amount based on ticket sales every year for 10 years. If the city renews the contract after 10 years, that amount increases to $900,000 per year. Live Nation has also agreed to invest $3.7 million into the facility by 2016, according to public records.
Council will consider the new contract on Tuesday, December 10 in the Council Chamber inside the Concord Civic Center at 1950 Parkside Drive.
Editor's note: The story we originally published stated that the city would require the management company to host 75 concerts per year. City staff said that they want the management company to host 75 concerts over a five year period.