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Just in: Domingo pays off LA Opera’s $14 million bailout

The huge bank loan that LA Opera took in 2009 when an approaching Ring cycle and a bad economy caused its finances to crash has been paid off in good time. The loan was backed by the county, one of whose supervisors reports the happy ending here.

“This is a direct testament to the generosity of our donors and the dedication of our ticket buyers,” Domingo said in a statement last night. “Thanks to their support and commitment to LA Opera, we will continue to grow and thrive. I am profoundly grateful to the Board of Supervisors for their longstanding trust and confidence in LA Opera, and for recognizing the important and prestigious role that a world-class opera company plays in the greater Los Angeles community.”

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