The Palace of Sports is situated in the center of Kyiv on the right bank of the Dnipro.
It was built in 1960 under the leadership of Mykhailo Hrechyna and Aleksei Zavarov. Initially it was a venue for large concerts with bands such as Deep Purple, A-Ha and Big Country. The venue also hosts major exhibitions and trade fairs. In 2005 it will host the Eurovision Song Contest. The facilities will be brought up to the standard required by the European Broadcasting Union in 2005.
If the 20,000-seat amphitheater is built as planned, PalaceSports can exercise an option to become a 50 percent partner with media giant Clear Channel, splitting construction costs for the $18-million project and sharing in the proceeds of big acts coming to town.
PalaceSports quietly secured the option in July 2001 after first talking with Clear Channel about it in 2000, according to Ron Campbell, president of both the Times Forum and the Lightning hockey team, which is owned by PalaceSports.
PalaceSportshas had a relationship with Clear Channel for 15 years and has stayed out of the fray about the amphitheater's impact on the Times Forum partly "out of respect," Campbell said.
PalaceSports and Entertainment has similar long-term plans for the Lightning in Tampa Bay, one of the nation's quickest growing metropolitan areas.
The top financial executive at PalaceSports and Entertainment for the past 15 years, Campbell was the organization's clear choice to lead the Lightning as he worked on a daily basis throughout the spring and summer before last as the company's point man to facilitate PSandE's purchase of the team.
His familiarity with the Lightning, the Ice Palace and the Tampa Bay region, when combined with his extensive financial, administrative and major league sports background within the PalaceSports and Entertainment assure that the Lightning and its role within the community are in a stable yet progressive position.
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