The club faces eviction from their landlords the University of New York. 

Springsteen, who was one of the artists that got their start at The Bottom Line has reportedly pledged hundreds of thousands dollars along with Viacom President Mel Karmazin, to help keep the club open. 

Satellite radio company Sirius Satellite Radio Inc came to rescue last month and offered to help pay the club’s back rent, which is reportedly around $185,000. This bailout came at the last minute as the club owners and NYU attorneys were literally in the halls of the court house. (see story) A Judge issued a 30-day reprieve for the club before evictions proceeding would go forward. Both sides meet in court this past Thursday and the judge is expected to make a ruling within the next 30 days. 

Despite the Sirius and now Springsteen / Karmazin bailout proposals, NYU is looking at the bottom line. They want to raise the rent and have the club owners make improvements to the building before they will sign a new lease. 
                                
NYU spokesman John Beckman said in a statement: “The Bottom Line’s rent is at least 50 percent below market value. The current arrangement, in which our not-for-profit educational institution subsidizes this for-profit entertainment business, is not appropriate or sustainable.” 

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