Alamodome Seeking Naming-Rights Partner SC STL MLS Stadium Plan Once Again Stalls Avaya Stays On Earthquakes' Stadium For Now Warriors' Groundbreaking Keeps People Talking New UFC HQ To Feature Athlete Center Facility Notes Warriors Hold Lavish Arena Groundbreaking Glen Taylor Commits $9M More To Arena Upgrades Braves Moving Spring Home To Sarasota County Seattle Mayor Arranging Talks With NHL, NBA
RAPTORS MAKE LOW OFFER IN BID FOR ARENA SITE
Published November 9, 1994
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).