TicketNetwork’s CEO Donald J. Vaccaro announced that he’s taking a leave of absence Tuesday, just hours after Gov. Dannel P. Malloy said the state was examining the loan deal it planned to give the company. The news comes one day after Vaccaro’s arrest at an Oscar party.
“I will be taking an indefinite leave of absence as CEO from TicketNetwork as I resolve this issue,” Vaccaro said in an emailed statement. “I do not want my personal actions to impact the company’s growth.”
Vaccaro faces a hate crime charge after police say he made a racial insult to the bouncer who removed him from the party after he allegedly groped a woman. Vaccaro said he will be seeking counseling and treatment for alcohol abuse during his leave of absence.
Click here to read more about the incident.
At an press conference earlier in the day, Malloy called Vaccaro’s behavior “boorish” and said three people from his administration are examining the state’s plan to loan money to the company.
“It’s time for Mr. Vaccaro to examine his own behaviors and the relationship he wants to have with the state of Connecticut,” Malloy said Tuesday.
The state offered TicketNetwork a $4.5 million, 10-year state loan to create between 200 and 600 jobs over the next 10 years. The deal also came with a five-year, $1.8 million loan from the Connecticut Development Authority for information technology, furniture, and fixtures. In addition, it will be eligible for a $250,000 software engineer training grant if it creates 200 jobs, and a $450,000 grant if it creates 600 jobs.
The offer, which was announced in July, hasn’t been finalized, Malloy said.