The front entrance of TD Station in Saint John. (Image: Brad Perry)
The city has entered into negotiations with a United States-based venue management company to buy or lease TD Station.
Global Spectrum, or Spectra, has made an offer and entered into confidential negotiations over the arena.
Previously, the city opened a request for expressions of interest to take over some of its higher-profile recreation facilities this past January.
As a result of its poor financial situation, the city is looking to offload TD Station, which has operated at a deficit for the past number of years.
According to city documents, a number of companies expressed interest, with Global Spectrum being chosen for negotiations.
At Monday night’s council meeting, it was announced these negotiations would be done confidentially.
Global Spectrum would have to honour two agreements in place at TD Station: a five-year agreement with TD Bank for the naming rights of the facility and a five-year agreement with the Sea Dogs.
