For nearly two decades, the Rio Rancho Events Center has stood as both a point of pride and a financial burden for taxpayers. Built for $47 million and opened with high hopes, the arena has consistently operated at a loss. Now, with the announcement that a new professional hockey franchise will begin play in 2026, city leaders and investors are optimistic that this time will be different.Deep dive: Target 7 InvestigatesA history of high hopes and empty seatsWayne Oliver was one of the earliest supporters of professional hockey in Rio Rancho. As a season ticket holder for the New Mexico Scorpions, he remembers the excitement when the team moved from Albuquerque’s Tingley Coliseum to the brand-new arena.“We started from Day 1. We got season tickets, and we had center ice,” Oliver recalled.But enthusiasm waned quickly. “When they moved out here, people from Albuquerque didn’t want to drive,” he said.Despite early success, the Scorpions folded after just three seasons in Rio Rancho. A junior hockey team and an arena football team followed and also failed.A public facility that bleeds moneyToday, the arena hosts a mix of events: indoor soccer, concerts, professional wrestling and “Disney on Ice.” However, the city continues to subsidize the facility. Rio Rancho’s budget for this year projects $3.6 million in expenses for the Events Center, while revenues are expected to bring in just $660,000 — a nearly $3 million loss.Mayor Gregg Hull acknowledged the ongoing deficit. “We are subsidizing it as a public facility,” he said.While the original intent was that the arena would spark surrounding economic development, that has yet to materialize. Hull suggests the center was ahead of its time. “Rio Rancho was still in its infancy,” he said.Enter: The New Mexico Pro Hockey ClubLast week, the city announced that a new team — backed by REV Entertainment, the sports and entertainment arm of the Texas Rangers — would join the ECHL, a mid-tier professional hockey league. The team will begin play in October 2026.“Many millions … were invested by the ownership group to put the best foot forward,” said Sean Decker, an REV executive.But how will this time be different?Unlike previous teams, this franchise is backed by national and local investors with extensive experience in sports and entertainment. Local attorney and part-owner Indy White said the group spent years studying the market and believes conditions have changed.“The Rio Rancho Event Center is seeing more concerts every year, more events, and ticket attendance is going up,” White said.Follow us on social: Facebook | X/Twitter | Instagram | YouTubeWill the arena finally pay off?Under the current agreement obtained by KOAT through a public records request, the city does not receive lease payments directly from the team. Instead, the franchise will lease the facility through a third-party management company, which Rio Rancho pays $125,000 annually.The city can receive shared profits if certain milestones are hit, and Hull believes the presence of the new hockey team could drive that revenue higher. “It’s going to generate a lot of interest and excitement around Rio Rancho,” he said.For fans like Oliver, it’s a long-awaited return.“I just can’t wait until they drop the puck in October 2026,” he said. Action 7 News On The Go: Download our app for free

RIO RANCHO, N.M. —

For nearly two decades, the Rio Rancho Events Center has stood as both a point of pride and a financial burden for taxpayers. Built for $47 million and opened with high hopes, the arena has consistently operated at a loss.

Now, with the announcement that a new professional hockey franchise will begin play in 2026, city leaders and investors are optimistic that this time will be different.

Deep dive: Target 7 Investigates

A history of high hopes and empty seats

Wayne Oliver was one of the earliest supporters of professional hockey in Rio Rancho. As a season ticket holder for the New Mexico Scorpions, he remembers the excitement when the team moved from Albuquerque’s Tingley Coliseum to the brand-new arena.

“We started from Day 1. We got season tickets, and we had center ice,” Oliver recalled.

But enthusiasm waned quickly. “When they moved out here, people from Albuquerque didn’t want to drive,” he said.

Despite early success, the Scorpions folded after just three seasons in Rio Rancho. A junior hockey team and an arena football team followed and also failed.

A public facility that bleeds money

Today, the arena hosts a mix of events: indoor soccer, concerts, professional wrestling and “Disney on Ice.” However, the city continues to subsidize the facility. Rio Rancho’s budget for this year projects $3.6 million in expenses for the Events Center, while revenues are expected to bring in just $660,000 — a nearly $3 million loss.

Mayor Gregg Hull acknowledged the ongoing deficit. “We are subsidizing it as a public facility,” he said.

While the original intent was that the arena would spark surrounding economic development, that has yet to materialize. Hull suggests the center was ahead of its time. “Rio Rancho was still in its infancy,” he said.

Enter: The New Mexico Pro Hockey Club

Last week, the city announced that a new team — backed by REV Entertainment, the sports and entertainment arm of the Texas Rangers — would join the ECHL, a mid-tier professional hockey league. The team will begin play in October 2026.

“Many millions … were invested by the ownership group to put the best foot forward,” said Sean Decker, an REV executive.

But how will this time be different?

Unlike previous teams, this franchise is backed by national and local investors with extensive experience in sports and entertainment. Local attorney and part-owner Indy White said the group spent years studying the market and believes conditions have changed.

“The Rio Rancho Event Center is seeing more concerts every year, more events, and ticket attendance is going up,” White said.

Follow us on social: Facebook | X/Twitter | Instagram | YouTube

Will the arena finally pay off?

Under the current agreement obtained by KOAT through a public records request, the city does not receive lease payments directly from the team. Instead, the franchise will lease the facility through a third-party management company, which Rio Rancho pays $125,000 annually.

The city can receive shared profits if certain milestones are hit, and Hull believes the presence of the new hockey team could drive that revenue higher. “It’s going to generate a lot of interest and excitement around Rio Rancho,” he said.

For fans like Oliver, it’s a long-awaited return.

“I just can’t wait until they drop the puck in October 2026,” he said.

Action 7 News On The Go: Download our app for free