Mark Frazier, co-owner of the Dallas Eagle, reportedly has dropped his bid to purchase the San Francisco Eagle Tavern, according to the Bay Area Reporter. Matthew Bajko reports:
Mark Frazier, who owns the Dallas Eagle, had been working with Eagle manager Ron Hennis for days to try to buy the bar. But Frazier announced this week that he’s dropping out.
He expressed frustration in trying to deal with the bar’s landlord, John Nikitopoulos, who he said wants to raise the rent, among other issues. He also said Nikitopoulos hasn’t returned his calls. …
Community members have been working to keep the bar LGBT-oriented throughout the month, after it looked like it might be sold to the owner of a different bar, raising fears the business could go straight. That deal didn’t happen. There had been some hope, including on a Facebook page devoted to the bar, that Frazier entering the picture would help.
But Frazier said this week that Nikitopoulos had been “uncompromising.”
“There’s only so much that a business can do to break even,” he said. Frazier said the Eagle’s lost money in the last couple years. He said the bar could turn around, “but a business can only turn around if you have control over your expenditures.” He said that with Nikitopoulos “jumping up the rent to the point where it’s not feasible, that hinders your bottom line.”