SBD/8/Facilities Venues

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         The Anne Arundel County (MD) Economic Development Corp., a
    nonprofit organization, commissioned the consulting firm of
    Arthur Andersen to conduct an economic study of the proposed
    $160M, 78,600-seat stadium that Jack Kent Cooke would like to
    build in Laurel, MD.  The study will examine three main areas:
    the money spent in the county and state on the project; the
    number of jobs that would be created; and public sector revenues
    generated by the project (WASHINGTON TIMES, 11/8)....Under the
    headline, "Divided on United," Daryl Van Schouwen writes about
    fans reactions to the new United Center under subhead: "Season-
    ticket holders giving mixed reviews" (CHICAGO SUN-TIMES, 11/6).

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         The Detroit Lions have long sought a more user friendly
    lease at the Pontiac Silverdome.  The team does not receive any
    revenues from parking, advertising or concessions -- one of the
    few NFL teams with that contract.  The city of Pontiac enjoys the
    lease situation, as in 1993 they made approximately $1 million in
    profit. Today, THE SPORTS BUSINESS DAILY examines the Pontiac Silverdome.
    STADIUM: Pontiac Silverdome, Pontiac, MI
    AGE: Completed in 1973.
    CAPACITY: 80,311
    OWNERSHIP: Owned by the City of Pontiac.
    MANAGEMENT: Managed by city employees and governed by PontiacStadium
    Building Authority.
    RENT: $2.66 million.
    102 — owned and operated by the Stadium Building
    COST: Total cost was $55.7 million, including $15.9M in general
    obligation notes and $25 in revenue bonds.
    PARKING: 12,637 parking spots on site. $7 a car, all revenue goes to the
    Stadium Authority.
    ADVERTISING: All advertising handled by the Stadium. Lions get no percentage
    of advertising revenue.
    CONCESSIONS: Elias Brothers Restaurant. Stadium Authority gets 30% of the
    split. Lions do not share in the revenue.
    LEASE: Lions lease expires in 2004.
    RENOVATION: Ongoing -- with playing field resurfaced in '93.
    PUBLIC $: Zero. There is approximately $35 million debt with the stadium.


    (Sources: Joe Tsao, Stadium Building Authority, rent and public subsidy from Florida Times-Union article on July 24, 1994.)

    Print | Tags: Detroit Lions, Facilities, General Motors, NFL

         In Dallas, David Jackson and David Dillion examine the
    growing trend in NHL & NBA cities to build new arenas.  Martin
    Greenberg, Dir of the National Sports Law Institute at Marquette:
    "Professional sports is in the midst of the largest building boom
    ever. ... If you don't have a state-of-the-art facility, you
    don't have a team."  Jackson & Dillion note that it is "this
    fear" that has inspired Dallas  to pursue a new $170M facility.
    Since '88, 14 cities have made various deals for new hockey and
    basketball arenas; four more are under construction.  "These
    projects have a common denominator:  The desires of team owners
    to make more money from the luxury boxes, private clubs and
    expanded concession stands that are turning modern sports arenas
    into upscale entertainment centers."  The cities involved "face a
    common challenge:  How much public money should they gamble on
    projects that some economists consider financial risks?"  The
    piece focuses on ten new arenas that have already opened or are
    being built: Gund (Cleveland), Rose Garden (Portland), New
    Seattle Center, The Palace at Auburn Hills (Detroit), Crossroads
    Arena (Buffalo), America West (Phoenix), Arrowhead Pond
    (Anaheim), San Jose Arena, Kiel Center (St. Louis) and the United
    Center (Chicago) (DALLAS MORNING NEWS, 11/6).

    Print | Tags: Facilities, NBA, NHL
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