Featured image credit: Courtesy of SeatGeek
Salt Lake City Council members have voted in favour of helping to fund a major redevelopment of Delta Center as the arena prepares to welcome the NHL’s Utah HC as a new tenant.
Delta Center has served as the home of the NBA’s Utah Jazz since 1991, and will host its first regular-season NHL game later this month.
Smith Entertainment Group (SEG), which owns the Jazz and Delta Center, acquired the NHL team formerly known as Arizona Coyotes back in April. Delta Center has undergone renovation work ahead of the newly branded Utah HC’s debut season, but SEG has wider plans to expand the arena and the area around the facility.
On Tuesday, the city council approved a sales tax increase to help fund the construction of a wide-ranging sports and entertainment district next to Delta Center. The council has also given the green light to a participation agreement with SEG.
Local outlet Deseret News reports that SEG is planning on investing $3bn (£2.3bn/€2.7bn) into the district. The project would include a reconfiguration of Delta Center and the construction of residential spaces, a hotel, retail outlets and restaurants.
In a statement reported by Deseret News, Mike Maughan, SEG executive and project principal, said: “With today’s vote, our capital city’s urban core is poised for a more activated, connected, and family-friendly future due to the collaboration between the city, county, Smith Entertainment Group, and leaders from the Utah Symphony, UMOCA (Utah Museum of Contemporary Art), Salt Palace Convention Center, community and religious organisations, educational institutions, local businesses, residents, and other stakeholders.”
The tax sales rate would generate around $1.2bn over 30 years, with $900m of this set to be given to SEG to repay bonds. The sales tax would come into effect on January 1, 2025.
Over the past five months, Level 1 of Delta Center has undergone significant renovations to create new family hospitality areas, a dedicated locker room for Utah HC, an updated Jazz locker room, newly configured visiting locker rooms, and shared facilities for NBA and NHL coaches and league officials.
Utah HC has also partnered with SeatGeek for its debut NHL season. SeatGeek is an existing partner of the Jazz.
Earlier this week, SEG slashed the price of certain concessions at Delta Center as Utah HC prepares for its competitive debut. The $3 fan-friendly concessions – popcorn, nachos, hot dogs, and Farr’s ice cream bowls – can be purchased throughout Delta Center at various designated vendors. The $2 Dasani water bottles will be available at all vendors.
SEG is led by Ryan Smith, the co-founder of Utah-based tech business management firm Qualtrics. Smith completed his acquisition of the Jazz and Delta Center in December 2020 for a reported fee of $1.66bn.
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