musicNEWS:
Springsteen Pledges To Help Save The Bottom Line Nightclub
10-26-03
Keavin
.
Bruce Springsteen has pledged his support
in efforts to keep the famed Greenwich Village night club The Bottom Line
from having to close their doors.
The club faces eviction from their landlords
the University of New York.
Springsteen, who was one of the artists
that got their start at The Bottom Line has reportedly pledged hundreds
of thousands dollars along with Viacom President Mel Karmazin, to help
keep the club open.
Satellite radio company Sirius Satellite
Radio Inc came to rescue last month and offered to help pay the clubs
back rent, which is reportedly around $185,000. This bailout came at the
last minute as the club owners and NYU attorneys were literally in the
halls of the court house. (see
story) A Judge issued a 30-day reprieve for the club before evictions
proceeding would go forward. Both sides meet in court this past Thursday
and the judge is expected to make a ruling within the next 30 days.
Despite the Sirius and now Springsteen
/ Karmazin bailout proposals, NYU is looking at the bottom line. They want
to raise the rent and have the club owners make improvements to the building
before they will sign a new lease.
NYU spokesman John Beckman said in a statement:
The Bottom Lines rent is at least 50 percent below market value. The
current arrangement, in which our not-for-profit educational institution
subsidizes this for-profit entertainment business, is not appropriate or
sustainable.
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