Another lesson in spending public money in exchange for a team signing a long-term lease: The city of Fresno spent $5 million upgrading its Selland Arena last year in order to get the minor-league Fresno Falcons team to sign a 20-year lease. Barely a year later, the Falcons folded mid-season. Now the city is considering a lawsuit to recoup its lost $180,000 a year in Falcons rent payments.
Good luck with that. According to the Fresno Bee:
Brian Glover, a partner in Fresno Hockey Club, LLC, the Falcons’ owner, on Tuesday evening said the owners will gladly sign over all of the team’s assets to the city. He said those assets include the Falcons’ ECHL league membership and a team van.
City attorney James Sanchez says his office is currently researching whether any investors in the Falcons might be subject to a lawsuit.