Menu
Closing Bell

Closing Bell, July 31, 2001

The Daily Insider
Afternoon News & Headlines

Tuesday, July 31, 2001
4:00pm ET


CART Bullish Despite Weak 2Q Numbers

Digging For Home: Houston Holds Arena Groundbreaking

The Cost Of Cinergy – Judge Rules Reds Owe $6.5M

Open Frame: AMF Bowling Inc. Joins Subsidiary In Bankruptcy

Buzzer Beaters

Channel Surfing


CANCELLED RACE HURTS CART’S 2Q FINANCIAL NUMBERS

REUTERS reports today’s earnings announcement showed CART’s 2Q earnings dropped 36% compared to a year ago, "due to one less race held … and lower sponsorship revenue and membership and entry fees." CART’s 2Q net income was $3.9M or $0.25 a share, compared to $6.1M and $0.39 in ’00 (REUTERS/YAHOO, 7/31). CART Chair & CEO Joseph Heitzler said, "There are several exciting initiatives that are close to fruition. We continue to work toward finalizing the CART television package for 2002 and beyond. We are formulating our 2002 schedule, which will include several new markets. Attendance thus far in 2001 has increased in most instances. It all sets the stage for an exciting future" (RACINGONE.com, 7/31). At presstime, shares of CART were trading at $15.55, UP $0.87 (THE DAILY).


DIRTY WORK: HOUSTON HOLDS ARENA GROUNDBREAKING

The groundbreaking ceremony for Houston’s new, $175M basketball and hockey arena was held today. Mayor Lee Brown said that when the facility opens in September ’03, it "will be the third jewel in Houston’s sports crown" joining Enron Field and Reliant Stadium (AP/HOUSTON CHRONICLE, 7/31).


IN THE REDS: JUDGE ORDERS TEAM TO PAY BACK RENT

The CINCINNATI ENQUIRER reports that a judge has ruled that the Reds have "to pay Hamilton County $6.5 million the team owes in back rent for its use of Cinergy Field." Judge Robert Kraft’s decision "brings taxpayers one step closer to the conclusion of a five-year court battle" (CINCINNATI ENQUIRER, 7/31).


AMF BOWLING HOPES TO CLIMB FROM GUTTER

The AP reports that AMF Bowling Inc. filed for bankruptcy, "just weeks after its subsidiary and the world’s largest operator of bowling centers, AMF Bowling Worldwide, did the same." AMF Bowling Inc. is a holding company "with no operations." AMF Bowling Worldwide has secured "up to $75 million in financing so it can keep funding its own operations." AMF Bowling centers are still open for business (AP/BOSTON GLOBE, 7/31).


BUZZER BEATERS

SAFETY IN SALT LAKE: FBI Dir nominee Robert Mueller told the U.S. Senate Judiciary Committee yesterday that, if confirmed, he would "ensure that security for the 2002 Salt Lake City Olympics is adequate." Mueller: "I expect to be personally involved in those preparations" (DESERET NEWS, 7/31). After players on the ’98 U.S. men’s hockey team "trashed three dorm rooms" at the Olympic village in Nagano, ’02 U.S. Olympic men’s hockey team captain Chris Chelios said, "What was done in Nagano was unfortunate for everybody, but that is over. I guarantee something like that will not happen again" (SALT LAKE TRIBUNE, 7/31).

NOTES: The WNBA Sting will recognize breast cancer survivors tonight at Breast Health Awareness Night when they play the Sol (THE DAILY)….ITV signed a three-year, $1.4M deal yesterday securing England’s TV rights to the Tour de France (London TELEGRAPH, 7/30)….Oxygen Sports won the 2001 Women's Sports Foundation Journalism Award last week for its sports coverage (THE DAILY).

IN OTHER NEWS: The "Code Red" Internet worm is "likely to launch a new strike" on the world's computer systems late Tuesday, "possibly slowing Internet traffic to a crawl." The worm attacks computers running Microsoft's Windows NT and Windows 2000 systems (REUTERS/YAHOO.com, 7/31)….Verizon Communications today posted a $1B 2Q loss, or $0.38 a share, compared with a profit of $4.9 billion, or $1.79 a share, a year ago. The company "warned of weaker results ahead as the economy softens and basic-services demand slows" (REUTERS/YAHOO.com, 7/31).


THE DAILY STATS

2,546 – The new WNBA record for career points scored. Sparks C Lisa Leslie eclipsed former Comet Cynthia Cooper’s mark of 2,537 in last night’s win over the Lynx (AP, 7/31).


CHANNEL SURFING

TBS will air Braves-Cardinals at 8:00pm ET.

WGN will air Cubs-Padres at 10:00pm ET.

ESPN’s "2-Minute Drill" will air at 7:00pm ET and 7:30pm ET.

ESPN Classic’s "SportsCenter Flashback" will examine the Black Sox Scandal.

ESPN Classic’s "SportsCentury" will profile Babe Didrikson Zaharias.

Former Cowboys Troy Aikman and Daryl Johnston will be on "The Last Word."

Retired Braves CF Dale Murphy will be on "Up Close."

A&E’s "Biography" will profile Tim Burton.


HEADLINERS

Here are tonight’s headline guests on the following talk shows:

"The Tonight Show"

Arsenio Hall

"The Late Show"

Sean "P. Diddy" Combs

"The Late Late Show"

Jerry O’Connell

"Charlie Rose"

Michael Lewis



If you have any questions, comments or suggestions, please let us know at:
dailyinsider@sportsbusinessdaily.com

The Closing Bell provides an afternoon recap of the latest news and headlines each Monday through Friday at approximately 4:00pm ET. If you would like to sign up for an e-mail alert to the Closing Bell, go to My Account and personalize your e-mail alert options.

 

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Closing-Bell/2001/07/31/Closing-Bell-July-31-2001.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Closing-Bell/2001/07/31/Closing-Bell-July-31-2001.aspx

CLOSE