Monday, May 21, 2012
The San Diego City Council is scheduled to consider approval of a new deal with the Padres today that would encourage more off-season events at Petco Park.
San Diego is looking to increase off-season events at Petco Park for two reasons.
The city splits revenue generated from events like concerts in the park with the Padres. So more events mean more revenue for the city.
And more events also mean more off-season commerce at bars and restaurants in the East Village and downtown, where business typically drops off after baseball season ends.
The current agreement between the City and the Padres splits revenue generated in the off-season 70-30, with the majority going to the city.
The Padres, who organize the non-baseball events, argue it’s not worth it.
The new agreement proposes 30 percent going to the city and 70 percent to the Padres, where the City is guaranteed a minimum of 300-thousand dollars. The Padres will also be required to invest more money in the park.
The Padres estimate that the new agreement will net the San Diego more than 600-thousand dollars next year, up from just over 300-thousand this year.