UConn takes stronger partner role at CT sports venue in $10M plan. Called ‘significant opportunity.’
In another significant boost for downtown, the University of Connecticut will take an even stronger role at PeoplesBank Arena as $10 million in new state tax credits will extend match-ups in college basketball in Hartford until 2045 and give the university a share in profits across all events at the recently-renovated venue. The legislation — signed into law recently as part of the 2027 budget adjustment bill — essentially makes UConn a partner in the operations of the 16,000-seat venue and requires the university to schedule at least 20 games each academic year. Those match-ups include men’s and women’s basketball and men’s ice hockey.
“UConn athletic events are vital to downtown businesses and bring positive attention to our capital city,” Cathryn Vaulman. a spokesperson for Gov. Ned Lamont , said, in a statement to the Courant.
“By providing this tax relief, we are helping ensure that games continue to be played at PeoplesBank Arena, supporting the restaurants, bars, and shops that make downtown Hartford vibrant on game days. “ The recent, $145 million renovation and upgrade to the arena —known as the Hartford Civic Center when it opened in 1975 and, more recently as the XL Center — also is aimed at reversing a money-losing history. The upgrades — the majority paid for by state taxpayers — also target significant expansion of the schedule of concerts, a mainstay of profitable, modern arenas.
Denver-based Oak View Group , the arena’s day-to-day manager, invested $20 million in the recent renovation in return for a 20-year extension of its contract. That extension now mirrors UConn’s commitment to playing games in the sports and entertainment venue, where it has taken on opponents for 50 years. “It locks in the anchor tenant there, which is good for the arena, good for Hartford and good for UConn,” said David S.
Steuber, executive director of the Capital Region Development Authority , which oversees the management of the arena. In a statement Monday, UConn Athletics said it was encouraged by Lamont including the provision in the legislation, now law. “PeoplesBank Arena has been home to UConn men’s and women’s basketball and men’s hockey for many years, and our programs have been a significant driver of the arena’s success,” the statement said.
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