SBD/17/Facilities Venues

RAPTORS LOOK TO BE A CONTENDER DOWN ON THE WATERFRONT

     The Raptors are attempting to swing a deal to purchase six
acres near the Toronto waterfront where the team hopes to build a
proposed 22,500-seat arena.  Several sources close to the team
have confirmed that there have been negotiations with Canada Post
Corp. and Marathon Realty, the owners of the six-acre lot, about
acquiring the site.  The site has recently been appraised by an
independent firm as worth about $20M.  But a concern of the
Raptors is that the land is contaminated and will have to be
cleaned before anything is built.  Potential clean-up costs are
estimated at $12M (Robert MacLeod, Toronto GLOBE & MAIL, 10/15).
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