SBD/9/Facilities Venues

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  • RAPTORS MAKE LOW OFFER IN BID FOR ARENA SITE

         This morning's TORONTO STAR reports that the Raptors have
    offered Canada Post as little as C$14M for a "prime downtown site
    that's worth at least four times that much."  The property is on
    Canada Post's books for C$65M.  The package "recently pitched" to
    the post office by the Raptors is said to come in the form of
    C$3M cash and C$1M a year for 50 years, with half the money to
    come from "marketing rights."  These "rights" could range from
    naming the arena after a sponsor to putting a logo on the roof to
    setting up a "giant video display ad board within view" of an
    area expressway.  The Raptors are "under pressure" to find a site
    because "unless construction begins before next October 1, they
    must pay" C$1M to the Ontario government (David Israelson,
    TORONTO STAR, 11/9).
    

    Print | Tags: Facilities, Maple Leaf Sports and Entertainment, Toronto Raptors
  • STATE OF THE STADIUM: HAIL TO THE REDSKINS

         Marion Barry's victory yesterday could have an impact on
    Redskins Owner Jack Kent Cooke's desire to build a new stadium
    for his team.  RFK is one of only two facilities in the NFL with
    no luxury boxes and has the lowest capacity of any facility in
    the league.  Cooke would like to move to Laurel, MD, and build a
    privately financed 75,000-plus seat stadium.  But a recent ruling
    by an Anne Arundel County official has increased speculation that
    Cooke and Barry will try to make a new deal to keep the team in
    Washington.   THE SPORTS BUSINESS DAILY today looks at RFK
    Stadium.
    STADIUM: RFK Stadium, Washington, DC
    AGE: Stadium built in 1961
    CAPACITY: 57,000 -- lowest capacity in the NFL.
    LUXURY
    BOXES:
    None. Only the Raiders also lack luxury seating.
    OWNERSHIP: District of Columbia owns the stadium. U.S. Dept. of
    Interior owns the land.
    COST: $19.5 million, paid for by bonds. There is no debt on the
    stadium.
    RENOVATION: $7M of structural and cosmetic renovation in the past 10
    years.
    CONCESSIONS: B&B Caterers of Washington DC. Revenue split: 36% goes
    to the stadium, 44% to B&B, and 20% to the Redskins.
    PARKING: 12,000 parking spots with a $6-10 parking charge.
    Redskins get 25% of total revenue.
    LEASE: The team has an option on the lease in 1996.
    ADVERTISING: Team gets 25% of revenue, city gets 75% of stadium
    advertising.
    RENT: Estimated at $2 million -- approximately 7th highest in the
    league.
    PUBLIC $: Zero.
    (Source: Jim Dalrymple/RFK Stadium; rent and public subsidy figure from Florida Times-Union article on July 24, 1994).

    Print | Tags: Facilities, NFL, Oakland Raiders, Washington Redskins
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