(Todays IS IT TRUE is a repeat from yesterday because many people had problems posting on this site)
IS IT TRUE before you read rest of todays IS IT TRUE comments please click the attached link concerning Addendum Number Six to the Agreement for Professional Management Services and License for Uses of the Evansville Arena between the City of Evansville and VenueWork/ VW Sports LLC? …attached is the link to Addendum Number Six to the Agreement for Professional Management Services and License for Uses of the Evansville Arena between the City of Evansville and VenueWork/ VW Sports LLC?
IS IT TRUE that Addendum Number Six to the Agreement for Professional Management Services and License for Uses of the Evansville Arena between the City of Evansville and VenueWorks/VW Sports LLC  has some very interesting language about what happens to the profits and losses associated with the operation of the Evansville Thunderbolts?…in Section 6 of this agreement it is clearly stated that:  “VenuWorks assumes the operation of the SPHL franchise pursuant to the terms of its operating lease by and between VenueWorks/VW Sports LLC  and Evansville Professional Hockey, LLC (the “Hockey Operating Lease”) shall be entitled to utilize facility staff and resources reasonably necessary in connection of its operation of the SPHL franchise. During any such period during which VenuWorks operates the SPHL franchise, all operating expenses of the SPHL franchise shall be deemed an expense of the Facility and all operating revenue of the SPHL franchise shall be deemed the revenues of the Facility.â€
IS IT TRUE the translation of this addendum agreement into common language it seems that all of the financial losses associated with the Evansville Thunderbolts are covered by the City of Evansville?…of course all of the revenue including ticket sales, concessions, and rent are captured by the City of Evansville to offset the losses to the fullest extent that they can?…after reading the entire addendum agreement in many ways it looks like that the Evansville Thunderbolts are and always have been the property of the City of Evansville?…it looks like VW Sports LLC,/VenueWorks may have never had any real financial risk of being stuck with the fruits of their labors with respect to hockey?…this agreement looks like a classic attempt to enabled the City of Evansville to own a commercial enterprise in the form of a hockey team?…per this agreement there may have been an opportunity for VW Sports LLC/VenueWorks to profit from this enterprise but the risk of losses were always destined to be paid for by the City of Evansville?
IS IT TRUE that the CCO has exposed many costly acts of buffoonery over the past 18 years from the $200,000 Earthcare Energy LLC debacle, to the $600,000 purchase of the McCurdy parking lot that was given  to a political crony of a former Mayor, the Homestead Tax Credit grab mastermind by a couple of City and County officials, the $595,000 purchase of the vacant and dilapidated CVS building on North Main to name a few?  …it looks like this deal has all of the hallmarks of similar deception?…we could call this deal SNEGAL (sneaky but legal) but we are not really sure something like setting up a corporation with shareholders who seemly have no real financial risks really meets that definition?…we are certain it was sneaky, but we are not certain this was legal?…it will be interesting if any accountability comes to the “Teflon Republic” (City of Evansville) after this stunt?  … we do believe that no reasonable business or political leader holding a $127 million dollar bond note on a facility losing money (Ford Center) and facing an $8 Million dollar annual bond payment would have ever considered such an “investment†in a minor league ice Hockey team?…if this deal does not merit a forensic audit, nothing ever will?  …we can’t wait to see how the Evansville City Council members, main stream media and the taxpayers of Evansville are going to address this issue?
IS IT TRUE we urge you to read section #4 of Addendum Six posted as Disbursement and Use of Sustained Effort Incentive Fee and tell us what you think about terms offered to VenueWorks by the City of Evansville? Â …we know that you will find this an extremely interesting read?
FOOTNOTE: Â Todays “READERS POLL” question is Do you feel comfortable with the fact that the owners of VenueWorks now has 100% controlling interest of the Thunderbolt Hockey team?