SBD/21/Facilities Venues

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).
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Facilities, Milwaukee Brewers

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