Brockton Rox fall deeper in the financial hole
The city’s 21st Century Corp. has hired a lawyer as it chases the Brockton Rox for money after the team defaulted on the stadium payment due on Sept. 1.
“We are taking steps to protect the corporation,” said Vincent Maturano, president of the board of directors of the 21st Century Corp.
Marturano said the team owes $30,000, and after Dec. 1 the total will be $155,000.
The city holds an $8 million bond on Campanelli Stadium that is leased to the 21st Century Corp. for $10 a year. The corporation then rents the stadium and the adjacent Shaw’s Center to the Rox.
Former mayor John Yunits, president of the Rox, has not commented on the overdue payments. He did not return another phone call on Tuesday.
Earlier, he blamed bad weather and the economy for the team’s financial woes.
According to Maturano, the 21st Century Corp.’s executive board met Monday to discuss the Rox situation and has hired an attorney specifically to enforce the terms of the contract. He said the issues are two-fold: meeting the terms of the contract that is in place, which means paying the money due, and then moving forward.
“There is some serious talk about bringing some additional financial players in,” he said. “Our hope is we will have an answer this month.”
Elaine Allegrini can be reached at firstname.lastname@example.org.