City In Negotiations With U.S. Company To Buy Or Lease TD Station
SAINT JOHN – The city has entered into negotiations with a United States-based venue management company to buy or lease TD Station.
Global Spectrum, or Spectra, has made an offer and entered into confidential negotiations over the arena.
Previously, the city opened a request for expressions of interest to take over some of its higher-profile recreation facilities this past January.
As a result of its poor financial situation, the city is looking to offload TD Station, which has operated at a deficit for the past number of years.
According to city documents, a number of companies expressed interest, with Global Spectrum being chosen for negotiations.
At Monday night’s council meeting, it was announced these negotiations would be done confidentially.
Ben Burnett is a reporter with Country 94, a Huddle content partner.