Could big changes be coming to Cowtown Coliseum in the Stockyards?
Changes could be coming to Cowtown Coliseum, the historic Stockyards rodeo arena, including the potential sale of the venue to developers of the nearby Mule Alley.
Complete details about the 1908 coliseum’s future remain murky, but the Fort Worth City Council will vote on a new management agreement Dec. 17 that ends an annual subsidy. Fort Worth Stockyards Heritage Development Company, the partnership developing Mule Alley and a four-star hotel in the Stockyards, has been negotiating to buy out Rodeo Plaza Inc., the coliseum operator, for a few months, according to a report provided to the City Council.
Coliseum general manager Tim Lanier said weekend rodeos will continue in the venue. Since the city owns the building, it is necessary for the council to approve any change in operation. Lanier said there has been discussion about Stockyards Heritage Development taking over the coliseum’s operation, but nothing has been finalized.
A spokeswoman for Stockyards Heritage said the partnership declined to comment.
“(Stockyards Heritage) has an ongoing interest in making investments in Cowtown Coliseum to ensure that the future of the Coliseum includes a broad variety of on-brand western entertainment and other programming designed to drive incremental room nights to the Stockyards,” said the council report, prepared by the city manager’s office.
Since 2002 the city has paid an annual subsidy of about $185,000 to RPI to operate weekend rodeos and other events at the coliseum.
Under the new agreement, that will end. Instead, the city will receive 20% of all net profit made through coliseum programming.
Most of that money will be returned to the coliseum in the form of investment in improvements, city spokeswoman Michelle Gutt said in an email. With the new agreement, the city and the coliseum operator will split improvement costs 50/50.
The city has not estimated how much 20% net profit will yield.
Gutt said improvements would focus on accessibility and upgrading amenities like the restrooms.
If approved next week, the lease will be modified to 15 years with one five-year option to renew. It includes a non-compete clause with Dickies Arena.
The 3,418-seat coliseum cost about $250,000 in 1908, or more than $6.2 million in today’s dollars, according to its website.
Councilman Carlos Flores, who represents the Stockyards, said the coliseum plays a pivotal role in attracting people to the district and is key keeping the area authentically Western.
“A lot of the folks the visit Mule Alley or stay at the Drover Hotel will say ‘Well what can we do?’” He said. “That’s where the coliseum comes in.”
This story was originally published December 10, 2019 at 12:15 PM.
