The process originally recommended by Hugh Lombardi, executive vice president of Powers Management, would have kept financial records from certain events at the city-owned arena out of public view, according to a letter obtained by The Tennessean.
The proposed arrangement "enables us to avoid making a public disclosure of material terms and financial results," which could make future negotiations for events more difficult, Lombardi
wrote on Nov. 3 to J.D.
Elliott, chairman of the Metro Sports Authority's Finance Committee.
said Friday that he
had retracted the plan.
was working on a new proposal that would better balance the public interest and business concerns.
"We're trying to protect the interests of the city," he
"It's all about protecting the clients we work with, the promoters and the artists.
It's sensitive information.
But we're also trying to be transparent."
withdrew the proposal after getting feedback from Finance Committee members and before The Tennessean
started asking questions Thursday.
didn't know when the new proposal would be ready or what it would look like.
letter to Elliott, Lombardi
said that section of the lease is unclear.
It doesn't address the meaning of "material terms" or "financial results" or say "how the information is to be submitted to the Sports Authority for approval," he
To "fill in the gaps where ambiguity exists," Lombardi
had proposed that a four-person panel analyze the financial details of each special event and recommend approval or disapproval to the authority's Finance & Audit Review Committee.
The panel would have included one sports authority member, a Metro Finance Department official, a city attorney and a Powers Management
Hugh Lombardi is Sommet Center's general manager.