City of Greeley Secures Agreement with Colorado Eagles for a 40-Year term in New Arena in West Greeley

For the Sept. 16 meeting minutes, agenda and to play the meeting online, visit Greeley’s city meeting portal.

Below is the official news release from the City of Greeley:

City of Greeley Secures Agreement with Colorado Eagles for a 40-Year term in New Arena in West Greeley

GREELEY, Colo. — The City of Greeley announced today that it has reached a long-term agreement with Soaring Sports Group, LLC, the owners of the Colorado Eagles, which will secure the team as the anchor tenant in the city’s planned multi-purpose arena and ice center. The 40-year commitment ensures the Eagles will play in Greeley when the facility opens in 2028 as part of the new Cascadia development. That development is slated to break ground later this month.

This agreement comes as the Eagles prepare to transition from their current home at Larimer County’s The Ranch Events Complex, where they have played since their founding in 2003. Their lease at The Ranch ends in 2028, making Greeley’s state-of-the-art facility the team’s new home beginning with the 2028–2029 American Hockey League (AHL) season.

“This is a huge win for our city,” said Mayor John Gates. “Negotiating and approving these principal terms, including a 40-year commitment from the Eagles, is unprecedented in our region and speaks to the trust and collaboration between the City and the Eagles organization. This agreement ensures that Greeley will be home to professional hockey for decades, driving economic growth, community pride and entertainment opportunities for generations to come.”

Key Principal Terms Include:

• Term: 40 years beginning August 1, 2028 running through July 31, 2068.
• Home Venue: The Eagles will play all home games, including pre-season, regular season, playoff and special events, at the new Greeley arena starting with the 2028–2029 AHL season.
• Rent: The team will pay the City between $20,000 and $22,000 per game based on attendance, with automatic 10% escalations every five years.
• Revenue Sharing: The City and the team will share revenue from suite sales, certain ticket fees, advertising, sponsorships and a portion of food and beverage sales.

“The Eagles are proud to call Northern Colorado home, and this 40-year agreement with Greeley is a bold step toward growing the sport and enriching the community,” said Martin Lind, CEO of The Water Valley Company and owner of the Colorado Eagles. “The new arena will allow us to create world-class experiences for our fans and provide new opportunities for families and young athletes across the region.”

The arena is a cornerstone of the City’s larger West Greeley Project, which will transform 100 acres into a regional destination with entertainment, retail, dining, lodging and community amenities. City Council will review and approve the final arena use agreement at a later date, incorporating these principal and primary terms into the completed contract. Construction of the arena and ice center is expected to begin in 2026, with doors opening by July 2028.

The groundbreaking for the broader West Greeley development will take place later this month, marking the first visible step in turning the project vision into reality.