In a surprising move, the Capital Region Development Authority on Thursday decided on a change in management over the XL Center and Rentschler Field.
After a five-month search, CRDA has chosen Philadelphia’s Global Spectrum to take over the management reins of both venues.
The authority held a late afternoon press conference to announce it.
“Our goals are very clear—we need a management company that will revitalize two of the largest venues in our Capital City, and Global Spectrum is the right team,” said Michael Freimuth, CRDA’s executive director. “The XL Center and Rentschler Field are keys to regional economic development—attracting people to the downtown and rebuilding the capital city’s legacy as a thriving center of activity. We had some tremendous proposals submitted—groups that are clearly committed to Hartford and its potential. We are expecting great things from Global Spectrum, and look forward to working with them in the future.”
AEG Management CT has been managing the XL Center and Bushnell Management Services has managed Rentschler Field.
Global Spectrum, which is owned by Comcast Spectacor, is one of the world’s largest private venue management companies. It has venues in the US, Europe, Asia, and the Middle East. Global owns an NHL club and their business lines include AHL affiliates, concession, ticketing and marketing, as well as a considerable cable system network, officials said.
“The diversity of business within Global Spectrum and their experience and strong affiliation with leading entertainment and sports entities make it a perfect choice to run both the XL Center and Rentschler Field,” said Suzanne Hopgood, CRDA’s board chairwoman. “Their expertise will be an asset to the management of both venues and will strengthen development throughout the region.”
Originally, five companies and the University of Connecticut submitted letters of interest to take over management of the XL Center and/or Rentschler Field.
That list was eventually whittled down to the three finalists including AEG Management CT, Philadelphia’s Global Spectrum, and the Capital Region Sports and Entertainment Group LLC, which is made up of group of prominent local organization’s and businessmen including The Bushnell and downtown Hartford parking tycoon Alan Lazowski.
Spectrum’s takeover of Rentschler Field and XL Center comes at a significant time for the future of economic development in Hartford and represents one of the first major tests for CRDA, which was established earlier this year by Gov. Dannel P. Malloy to better coordinate regional development.
The two sports and entertainment venues are seen as key cogs in stirring more commercial activity for the Capital City. While they have hosted more events lately, economic development officials believe they are under-utilized assets. Spectrum will be charged with changing that.
The last time management for the XL Center went out to bid was in 2007, when AEG and Northland Investment Corp. wrestled away control of the property from MSG, which owns the Connecticut Whale.
Northland eventually bowed out of its responsibilities, leaving AEG in sole control.
Bushnell Management Services took over control of Rentschler Field in fiscal 2011, after the state decided to re-bid the contract three years into a five-year deal. AEG and Northland were running the venue prior to Bushnell.
