MANCHESTER, N.H. – The Manchester Board of Aldermen approved restructuring of the New Hampshire Fisher Cats financial obligations on Tuesday night, deferring the payment of a combined $920,000 in repayment toward Northeast Delta Dental Stadium.
In the agreement, the Fisher Cats will no longer need to pay amounts of $460,000 in October 2020 and June of 2021. In exchange, the Fisher Cats have agreed to pay the city $521,324 each October and June starting in October 2021 instead of the original $460,000 payments expected in those months.
There is no change to the conclusion of the payment schedule, set for October 2028.
The Fisher Cats are seeking economic relief through the Governor’s Office for Emergency Relief and Recovery (GOFERR) as well as up to $1 million in Coronavirus Aid Relief and Economic Security (CARES) Act funding. In the agreement, the team agreed to pay the $920,000 amount immediately and return to the bi-annual $460,000 payments in October 2021.
For New Hampshire Fisher Cats President Mike Ramshaw, the news was well received given that the team has lost its primary source of revenue for 2020.
“I appreciate the Mayor and Aldermen for understanding the position that we’re in,” said Ramshaw. “The Fisher Cats have been a great partner with the city and the support we received last night was a great first step in the right direction.”