Rhinos $10.8M Past Due

Courtesy Rochester Democrat & Chronicle

Rhinos could lose stadium
City considers takeover as bank sues for $10.8 million in past-due loans

Citing a newly filed lawsuit claiming that the Rochester Rhinos organization defaulted on nearly $11 million in bank loans, city officials said Monday that they are contemplating steps to take over PAETEC Park.

The city already has met with a potential investor who the professional soccer franchise hopes will bail it out. Or the Rhinos’ bankers could step in and operate the team.

Whatever happens, city officials say, the goal is to ensure that the stadium is a financially viable home for pro sports. But time is running out and options diminishing as more becomes known about what Mayor Robert Duffy calls “a total financial mess.”

The Rhinos are scheduled to open their 2008 season May 2.

» Full Story