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NUGGETS TO TAKE THE PEPSI CHALLENGE?
Published October 3, 1994
The Nuggets and PepsiCo are talking about a deal worth $15- 20M that would give Pepsi naming rights to a new Denver basketball arena and the Nuggets money to help build that arena. A PepsiCo spokesperson confirmed that the two are in "preliminary stages of a deal." The Nuggets threw an "elaborate private party" at McNichols Sports Arena for PepsiCo execs last Thursday. Nuggets officials also met with Denver city officials and then "culminated their day by meeting" with Mayor Wellington Webb's sports advisory task force. The meeting produced an understanding the Nuggets would commit up to $100,000 to pay for consultants the city wants to hire to examine the team's arena proposal. Work by the consultants begins this week and will be completed in about 14 weeks. The fact the Nuggets are "courting Pepsi as a major sponsor for a new arena indicates how confident the team is that it can work out an agreement with the city." A new deal with the city would release the Nuggets from their contract to play at McNichols through the 2007-2008 season. Pepsi currently has beverage concessions at McNichols and also is involved with four other teams: Magic, Canucks, Cubs and Indians (Christopher Lopez, DENVER POST, 9/30).