Cavs "Quietly" Sought County Funds For Arena Bettman: Flames Need New Arena Marquette, Bucks Partner On Athletics Center Gillette Stadium Adds Cross Insurance Pavilion AHL Forms Five-Team Pacific Division NASCAR HOF Sponsors Revenue Plummets Rogers Wins World Cup Of Hockey TV Rights Glendale On Pace To Lose $8.8M On Arena Deal OU Prez Says Stadium Upgrades Not Delayed Indy Eleven Unveil Stadium Renderings
Upcoming Conferences and Events
SABRES' NEW CROSSROADS ARENA GETS GO-AHEAD VOTE
Published October 19, 1994
The Buffalo City Common Council voted unanimously yesterday to release $2.7M to begin immediate construction of the Sabres' new arena. A "key element" to gain support from black Council members is an affirmative action agreement allocating 25% of contracts and jobs to minority and female-owned businesses. Formal NHL approval is still required for the clause in the contract that the Sabres remain in Buffalo for 30 years, but Sabres point man Larry Quinn said the NHL has "basically signed off on the transaction" (Kevin Collison, BUFFALO NEWS, 10/19). Council member Gene Fahey: "We have put ourselves in the position so we won't be Al Davis-ed" (AP/OTTAWA CITIZEN, 10/19). TO BE DETERMINED: Lease discussions remain between the city and Sabres-controlled Crossroads Arena Corp., but city attorney Arnold Gardner said talks are progressing. The city will receive $500,000 in annual ground rent and a "share in potential profits." The city and the team must also negotiate payment of $11M in infrastructure associated with the arena. Buffalo has already pledged $10M for the arena and Public Works Commissioner Joseph Giambra says the infrastructure costs will have to compete with other city needs. The city has invested $6.5M so far to purchase land and raze existing buildings. $45M in county and state funds for the arena are awaiting $67.5M in private financing (Kevin Collison, BUFFALO NEWS, 10/19).