1 week Ago
BRADFORD'S regeneration chief has said Bradford Council did not invest in Bradford Live to "turn a profit". Councillor Alex Ross-Shaw, portfolio holder for regeneration, transport and planning, posted a series of posts on X after Bradford Council issued details about the contract with Trafalgar Entertainment, which was appointed to run the venue in February. The Council confirmed that Trafalgar Entertainment has signed a 25-year lease to run Bradford Live, which is owned by the Council.
The authority said it expects to receive total income of "up to around £17 million" from Bradford Live over a 25-year period. Last year, the Council revealed the overall cost of the Bradford Live project was £50.5m - of this, £43.
75m came from Bradford Council, made up of grants and loan cash, and the remainder came from West Yorkshire Combined Authority, the Department for Culture, Media and Sport and the National Lottery Heritage Fund. Cllr Ross-Shaw said: "We've always said we will reveal as much as possible about Bradford Live whenever we are able, so I'm pleased now we've announced Trafalgar as the operator we're now able to share more information about the contract they have signed with us. "As you can see, it's a good deal for Bradford and will generate significant economic impact for the wider district.
"This isn't an investment we've made into Bradford to turn a profit, it's an investment in our future and on top of all the jobs and businesses it will support. "It will also provide fantastic cultural experiences for generations to come. "Yorkshire Calling (to celebrate Yorkshire Day) has already been announced but there's much, more to come with the official opening season announcement a few weeks away.
"Exciting times ahead!" A Council spokesperson said earlier: "The Council will receive a guaranteed annual rental income for the venue, as well as an additional profit-share arrangement, which has the potential to boost the total income to Council for the venue up to around £17m over the life of the lease. A total workforce of around 40 permanent jobs will be supported at the venue alongside a large number of supervisory, managerial and specialist on-site roles to support shows and events as required. The majority of roles at Bradford Live will be filled from the local labour market.
"The wider regeneration delivered through the success of Bradford Live will also drive significant economic growth across the district. "UK-wide economic impact calculations set out that, for every £1 generated in ticket sales, £1.40 is delivered in additional income to the local economy.
"Over the contract lifetime, from the operation of Bradford Live alone, this figure would exceed £580m.".
