Ratner Confident In Isles Playing In Nassau Mohegan Sun Not Getting NCAA Tourney Games Chesney Tour Still Proving Valuable For Stadiums Facility Notes N.Y. Denies MSG Indefinite Permit College Facility Notes NBA Kings Owners To Buy Arena Site Leiweke Seeks To Make Raptors Canada's Team Facility Notes Colangelo Staying With Raptors, Loses GM Title
Upcoming Conferences and Events
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).