Entity owned by Priestner family to co-manage SaskTel Centre

Saskatchewan Place Association, the group that manages SaskTel Centre, and the Saskatoon Entertainment Group (SEG) — a company which runs the Saskatoon Blades and the Saskatchewan Rush — are entering into a five-year partnership to co-manage Saskatoon’s largest venue.

The agreement will see SEG assume management rights for all events at SaskTel Centre. In return, Saskatchewan Place Association will receive a series of payments that include: The greater of $1.35 million each year or 15 per cent of gross food and beverage profit; 50 per cent of sponsorship revenue; 50 per cent of naming rights; 50 per cent of parking revenue; $2 from every ticket sold; and, 50 per cent of eligible gaming revenue.

SaskTel Centre will also be upgraded with a maximum $1-million investment into “capital improvements” from SEG, the group owned by Colin and Mike Priestner. Saskatchewan Place Association will match the investment.

“We are eager to build on our strong partnership with Saskatchewan Place Association,” SEG chairman Mike Priestner said in a news release.

“We know how important SaskTel Centre is as a gathering place for significant events, world-leading performing artists, and of course, home of the Saskatoon Blades and Saskatchewan Rush. We look forward to playing a more active role in managing, operating, and marketing this amazing facility.”

The deal takes effect on Jan. 1. The board of the Saskatchewan Place Association, a non-profit corporation controlled by the City of Saskatoon, gave final approval of the agreement at a meeting on Wednesday.

“This is an excellent example of working with private partners, and we look forward to sharing in the future success of this facility,” Saskatchewan Place Association board chair Paul S. Jaspar said. “The funding arrangement and ongoing revenue streams will help to solidify the operations of SaskTel Centre following a couple of challenging years during the pandemic.”

The news release said there will be no impact on SaskTel Centre employees, contractors or the management team. All existing sponsorship and supplier agreements will be honoured, as will existing commitments to community and cultural events.