SBD/27/Facilities Venues

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  • GENERAL MOTORS GOES FOR NAMING RIGHTS TWO- FER IN CANADA

         GM is one of six major corporations that are bidding to have
    the Raptor's new arena named after their company.  GM has already
    affixed its identity to the new home of the Vancouver Grizzlies
    and Canucks, GM Place, which is under construction.  A source
    close to GM said that a deal should be "tied up" by the end of
    November: "I know we're first in line."  The source added that
    they were "not sure" whether an agreement would include
    exclusivity and/or floor signage."  An agreement on the naming
    rights is expected to cost tens of millions.  A former arena exec
    pegged the value of such a contract at more than $1M per year,
    with "significant" payment up front.  It is believed the arena
    agreement with Northwest, the Grizzlies' parent company, is worth
    more than $20M (Craig Daniels, TORONTO SUN, 10/27).
    

    Print | Tags: Facilities, Canucks Sports and Entertainment, Vancouver Canucks
  • ST. LOUIS AWAITS RAMS MOVE BEFORE ISSUING DOME NAMING RIGHTS

         St. Louis Convention and Visitors Commission (CVC) President
    Bob Bedell said that the commission will wait for a decision by
    the Rams about moving to St. Louis before they award a
    corporation with naming rights to the new dome.  It is currently
    unknown which party would receive any stadium naming rights money
    -- CVC, FANS Inc. or the St. Louis Regional Convention and Sports
    Complex Authority, which owns and is constructing the building.
    Bedell argues that any future naming rights revenues should help
    meet the CVC's operating expenses:  "CVC has more at stake
    financially than anybody else."  But FANS -- the non-profit group
    attempting to lure the Rams to St. Louis -- maintains they need
    the money to meet the Rams' wish list items of between $60-90M
    (ST. LOUIS POST-DISPATCH, 10/27).
    

    Print | Tags: Facilities, St. Louis Rams
  • STATE OF THE STADIUM: TEXAS STADIUM

         Earlier this week, Jerry Jones outlined his expansion plans
    for Texas Stadium in Irving.  His plan would expand seating
    capacity to over 100,000, the most in the NFL, and cost
    approximately $140M, close to what Jones paid for the team and
    the stadium in 1989.  Jones enjoys one of the most favorable
    lease situations in the league, and Texas Stadium's 358 luxury
    boxes are tops in the NFL with the Stadium Corp. owning and
    operating all the boxes.  Today, THE SPORTS BUSINESS DAILY
    continues to profile the NFL's infrastructure with a look at
    Texas Stadium.
    
    
    STADIUM:
    Texas Stadium, Irving, Texas
    AGE: Completed in 1971
    CAPACITY: 65,000, 21st highest in the league.
    OWNERSHIP: City of Irving
    MANAGEMENT: Managed by the Texas Stadium Corp.
    LUXURY BOXES: 358 boxes -- most in the NFL -- owned and operatedby the Texas Stadium Corporation.
    COST: $35 million, paid for by public bonds
    RENOVATIONS: Two recent renovations -- 118 more suites in '85, 60 suites added in '92.
    CONCESSIONS: Concessions done in-house by Texas Stadium Corp., revenue goes to Stadium Corp.
    PARKING: 16,000 parking sports at $6 a car. All revenue goes to Stadium Corp.
    RENT: $1.95 million -- 7th highest in the league.
    LEASE: Jones owns the team and manages the lease outright.
    (Sources: Bruce Hardy, GM/Texas Stadium Corp.; rent figure from Florida Times Union article from July 24, 1994).

    Print | Tags: Facilities, NFL
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