Albuquerque Journal (Albuquerque, NM)

Amphitheater Naming Cost $3 Million.(Metro & New Mexico)

Byline: Isabel Sanchez Journal Staff Writer

Journal Publishing Co. agreed to pay SFX Entertainment Inc. more than $3 million over nine years for naming rights to Albuquerque's new amphitheater, according to information released by Bernalillo County on Friday.

The county, which leases the amphitheater at Mesa del Sol to SFX, last week asked SFX to provide financial details of its naming rights sale for what is now called Journal Pavilion.

The county is to receive 20 percent of net revenue. Most of it is to help repay a $1.8 million sales-tax revenue bond debt that financed construction of the amphitheater.

According to a letter from Laura Clemmer, amphitheater executive director, naming rights will cost $300,000 the first year, with a 3 percent increase annually. …

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