Plans to remodel Dane County’s Veterans Memorial Coliseum are moving forward despite legal turmoil for Live Nation, the parent company of Madison promoter and venue operator FPC Live, which has made the only bid for the project, according to the Cap Times.
Live Nation is facing a lawsuit from the state Department of Justice over allegations of an illegal monopoly over live entertainment.
The Alliant Energy Center’s aging campus needs significant investment to draw entertainment to Madison, a move that could generate substantial economic benefits for the county.
FPC Live, also known as Frank Productions, was the only respondent that applied last November to renovate the Coliseum into a modern entertainment venue, and contract negotiations are now underway.
FPC Live proposed hosting around 75 events per year with a focus on music and comedy. It would reduce the number of seats from around 10,000 to between 3,500 and 6,800, meaning the space could no longer accommodate legacy events like the Midwest Horse Fair, monster truck show or certain sporting events.
According to FPC Live’s proposal, roughly $100 million is on the table toward the reconstruction of the facility, which was built in 1967.
The project’s revenue strategy, according to Dane County Executive Melissa Agard, is a “private-public partnership,” and the proposal states that early terms hover around a 30-year agreement.
