SBD/12/Facilities Venues

DENVER OFFICIALS SAY NO TO NUGGETS

     City officials "declared an impasse" yesterday in its
negotiations with the Denver Nuggets for a new arena.  Officials
on both sides said that they hoped negotiations would resume --
possibly as early as today.  The main sticking point in the
discussions is money, and how much the city will receive from the
team.  It has been agreed that the team would leave McNichols
Sports Arena and enter into a 30-year lease at a new arena.  The
Nuggets would then manage not only the new arena, but also
McNichols and the Denver Coliseum.  In turn, the city would
receive an annual payment of $2.2M, which "represents the revenue
the city currently earns" from McNichols and the Colisuem.  Under
the proposal, payments would increase 3% per year.  However, the
sticking point is the city "insists" the annual payment increase
with inflation (Lopez & Monroe, DENVER POST, 1/12).
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Denver Nuggets, Facilities

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