SBD/21/Facilities Venues

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  • BLOCKBUSTER PARK GOES WEST? HOLLYWOOD PARK HAS A PLAN

         A 65,000-seat football stadium for the Raiders is just one
    component in Hollywood Park's plan to "transform" its racetrack
    facility into a "year-round sports and entertainment complex."
    Hollywood Park Inc. recently built a golf range and card casino
    adjacent to its racetrack on the 345-acre Inglewood, CA, site.
    Ground will be broken next month on a shopping center and plans
    call for a music center to be built as well.  R.D. Hubbard,
    Hollywood Park Chair and CEO:  "We want Inglewood to be the place
    where L.A. comes to play."  Analysts say the plan is based on the
    park's "need to lure young, upscale customers who normally are
    not drawn to racetracks."  Steven Weinress, a partner at L.H.
    Friend, Weinress & Frankson Inc., says the large number of non-
    racing days is also an incentive for expansion: "(Hubbard's)
    whole concept is to turn it into a year-round destination site"
    (Walter Hamilton, L.A. DAILY NEWS, 12/21).
         PROBLEMS:  But "major obstacles" exist in the path of a new
    football stadium at Hollywood Park, according to a report in the
    L.A. TIMES.  Financial hurdles, competition with L.A., a lack of
    commitment from the NFL and difficulty in dealing with Raiders
    Owner Al Davis are what they face.  "The big question is
    Hollywood Park's ability to take on a huge new venture" (Reich &
    Mulligan, L.A. TIMES, 12/21).
    

    Print | Tags: Facilities, NFL, Oakland Raiders
  • JOHNSON RESPONDS TO POST'S QUESTIONS ABOUT ARENA

         BET President Robert Johnson reasserted his opposition to a
    plan for a new D.C. arena proposed by the National Capital
    Development Corp. in an op-ed in today's WASHINGTON POST.
    Johnson defended his own plan for a privately-funded arena and
    emphasized his desires for an agreement giving him minority
    ownership in Abe Pollin's Capitals and Bullets in exchange for
    BET funding the arena.  Johnson: "If citizens, businesspeople and
    sports fans really want to save the arena, they should encourage
    Mr. Pollin and BET to work out a mutually agreeable deal to bring
    the teams to a D.C. arena complex" (WASHINGTON POST, 12/21).
    

    Print | Tags: Facilities, Washington Capitals
  • REPORT SAYS NEW STADIUM FOR BREWERS IS FINANCIALLY FEASIBLE

         A study by the MILWAUKEE SENTINEL claims a new stadium for
    the Brewers would "put the team on a more solid economic
    footing."  The study assumes that the stadium would be built by a
    public authority and the Brewers would pay rent and maintain and
    make other contributions to the stadium.  The SENTINEL's plan
    proposes raising funds through a sports lottery and a 0.25% tax
    on restaurant meals -- two options outlined last month by the
    Greater Milwaukee Committee.  Although financing through these
    means "would fall about $5.9 million short of the annual debt
    service on bonds needed to build the facility," the shortfall
    could be made up through "rent and stadium revenue and still
    leave the Milwaukee Brewers with a positive cash flow."
    Projections estimate the team drawing 2.6M fans to a convertible-
    roof stadium with ticket prices similar to Baltimore's Camden
    Yards.  These figures would raise team revenue by $27M.  The team
    is dependant on the city, according to the report: "Even if the
    Brewers used every dollar of positive cash flow the stadium
    produced for them, they still could not borrow enough money to
    finance the stadium themselves."  Under the plan, the stadium
    would be rented to the Brewers by an authority created by the WI
    Legislature.  Brewers General Counsel Wendy Selig-Preib: "We
    can't do it alone" (Lank & Haudricourt, MILWAUKEE SENTINEL,
    12/20).
    

    Print | Tags: Facilities, Milwaukee Brewers
  • STATE OF THE STADIUM: THE LOUISIANA SUPERDOME

         The Saints recently signed a new lease that will keep them
    in the Superdome through the year 2018.  It also gave the team
    more revenue from concessions and all revenue from the sale of
    luxury boxes.  Today, we examine the lease of the Saints at the
    Louisiana Superdome.
    STADIUM:
    Louisiana Superdome, New Orleans, LA
    AGE: Completed in 1975.
    OWNERSHIP: Owned by the State of Louisiana
    MANAGEMENT: Facility Management of Louisiana (FML) — a Spectacor Management Group.
    COST: $163 million — paid for by public bonds.
    CAPACITY: 68,000
    LUXURY SEATS: 128 suites — team receives all revenue from the sale of luxury seating.
    GAME-DAY: Game-day personnel paid for by FML.
    MAINTANENCE: All maintenance covered by FML.
    PARKING: 5,400 spots — $8 a car — Saints receive all revenue.
    CONCESSIONS: Aramark (ARA) — Saints receive 42% of gross revenue.
    ADVERSTING: FML sells adverstising — Saints receive all advertising revenue for their games.
    LEASE: Expires in 2018
    RENT: $900,000 — 9th lowest in NFL.

    (Source: David Weidler, Superdome; rent figure from Florida Times-Union article on July 24, 1994.)

    Print | Tags: Aramark, Facilities, New Orleans Saints, NFL
  • VIRGINIA GROUP NAMES POSSIBLE STADIUM SITES

         Fairfax County, VA, officials revealed 12 possible sites for
    a stadium they hope to build for a baseball expansion team for
    Northern VA.  The sites are spread throughout the county, with
    officials saying an ideal site would be "more than 100 acres,
    close to a major highway and an existing or planned rail system."
    A 33-member committee will narrow the list down to "two or three"
    preferred sites within a month.  Loudoun County has also
    identified two sites for a potential stadium.  Outgoing Fairfax
    Board Chair Tom Davis, who will represent the area in Congress
    starting in '95, has said the estimated $250M needed for a
    facility would be paid for "almost completely with money
    generated by the development" (Eric Lipton, WASHINGTON POST,
    12/21).
    

    Print | Tags: Facilities
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