CONCORD -- The Sleep Train Pavilion is returning to its roots -- under a new management agreement with Live Nation, the amphitheater once again will be known as the Concord Pavilion.
As part of the 10-year contract the City Council approved Tuesday, Live Nation will pay the city a guaranteed $800,000 annually plus a bonus on every ticket sold over 100,000 in a year. The bonus begins at $3 a ticket during the first five years of the contract and rises to $4 per ticket after that. If Live Nation exercises its option to extend the contract for five years, the city would get $900,000 a year plus $5 per ticket sold over 100,000.
During each of the two five-year periods of the contract, Live Nation must book a minimum of 75 concerts that draw an audience of at least 3,000 per show. Live Nation must pay Concord a $40,000 fine for each such show it fails to deliver.
Live Nation must spend $3.7 million on capital improvements at the 38-year-old venue. The contract also calls for Live Nation and the city to spend about $1.1 million each on maintenance over 10 years.
Live Nation further sweetened the deal by throwing in free tickets for Concord residents, an outreach program to introduce school children to the performing arts and an opportunity for residents to buy concert tickets before they go on sale to the general public.
Lisa P. White covers Martinez and Pleasant Hill. Contact her at 925-943-8011. Follow her at Twitter.com/lisa_p_white.