It won’t cost taxpayers as much as first thought for the Moncton Magic’s first season at the Avenir Centre.
In 2018, City Council adopted a motion as a part of a risk mitigation agreement, to pay up to $333,785.29 to the team.
But according to a City Hall Spokesperson, the final payout will be $27,153.34.
This is based on annual revenues generated by the basketball team during the 2018/2019 season.
It was the Moncton Magic’s first season to play at the Centre.
The Magic also took the NBL championship win in the 2018/2019 season.