Philadelphia Mayor Jim Kenney campaigned on the promise to rent out the Mayor’s Box at pro sports arenas to raise money for the schools. After producing relatively little revenue this way, the city and Comcast Spectacor have struck a deal to lease back the box at the Wells Fargo Center.
The three-year deal guarantees Comcast Spectacor pays the city of Philadelphia $100,000 a year for the mayor’s box during Flyers and Sixers games.
John Page, president of the Wells Fargo Complex says they were happy to help the city.
“When we were approached we felt it was a great idea to try to assist and take the burden off the city to resell the suite,” he said.
Page says the $100,000 is the minimum the city can earn under the deal. There are opportunities to bring in extra money renting the box during non-sporting events which will go to the city schools through The Fund for the School District of Philadelphia.
The mayor’s spokesman Mike Dunn says negotiations with the Eagles for the Mayor’s box at Lincoln Financial Field are still underway. Bond agreements regarding Citizen’s Bank Park made a deal there complicated.