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NUGGETS-CITY OF DENVER ANNOUNCE AGREEMENT
Published January 13, 1995
The Nuggets announced an agreement with the city of Denver yesterday to build a "privately financed $132 million state-of- the-art downtown arena." Construction is scheduled to begin in May so that the arena will be finished in time for the start of the '97-'98 NBA season. It will be located about five minutes from the Nuggets current home, McNichols Arena. As part of the plan, COMSAT Corp., owner of the Nuggets, will build a $20M TV and film production studio next to the arena in partnership with Denver-based TCI. The deal is pending approval from Denver City Council and COMSAT's board of directors (Thomas Heath, WASHINGTON POST, 1/13).