RICHMOND, VA (WWBT) - Richmond is cutting a check to the Washington Redskins for the Bon Secours training camp.
The city's Economic Development Authority voted Wednesday to pay the Redskins $285,538. The city owes the money because it failed to drum up enough sponsors the past two training camps.
According to the city's contract with the team, Richmond must raise $500,000 each year. It's called the "local contribution." That contribution can include things like sponsors, local "ambassadors" working the event or even parking spaces. In 2013 the local contribution was $213,890 with a remaining balance of $286,110. That remaining balance was allocated equally to the 2014-2019 contract years.
Meaning the local contribution each of the remaining years is now $547,685.
For 2014, the city was able to contribute $262,147 in sponsorships and revenue generating opportunities. That leaves a $285,538 difference. The city still needs to decide who that difference will be dealt with.
The Mayor's press secretary Tammy Hawley said that the partnership is very valuable. According to a media recap from the last training camp, there has been a $76,146,720 minimum total value of the coverage generated for the City of Richmond from the training camp.