SBD/21/Facilities Venues

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  • BIDS FOR CHARLOTTE COLISEUM CONTINUE TO COME IN

         Houston-based PFA Acquisition and Development Co. is the
    latest company to join the list of "would-be" buyers for the
    Charlotte Coliseum, according to this morning's CHARLOTTE
    OBSERVER.  The company has "lined up" a brokerage firm, an
    entertainment management company and a law firm to fashion a
    public-private partnership with the city to own the Coliseum.
    PFA also wants to bring a NHL team to the city.  However, Mayor
    Richard Vinroot says that it's "premature" to entertain other
    offers for the Coliseum until negotiations with the Hornets are
    concluded.  Talks between the Hornets and the city continue this
    week and "are focusing on restructuring the Hornets lease."
    Vinroot said yesterday that he has received two letters from
    potential buyers other than the Hornets, one of which is
    reportedly worth around $80M.  The Hornets "peg the Coliseum's
    worth" at $60-65M, "which the city deems too low."  PFA
    reportedly will wait to see the city's and team's revenue figures
    before suggesting a price (CHARLOTTE OBSERVER, 2/21).
    

    Print | Tags: Facilities, New Orleans Pelicans, NHL
  • STEELERS PRESIDENT SPEAKS OUT ON NEW BALLPARK

         In Pittsburgh, Steelers President Dan Rooney is "skeptical"
    of Mayor Tom Murphy's plans to build a new ballpark for the
    Pirates, saying that it "won't cure the Pirates financial ills --
     and the city can't afford it."  With a $44M debt still "hanging
    over" Three Rivers Stadium, Rooney questions whether the city can
    afford to finance a new park.  According to Kenneth Shropshire,
    an economist at Wharton School of Economics, since '92, American
    cities "have spent more than" $1B to renovate or construct new
    stadiums or arenas, and $6B will likely be spent by 1999.  But,
    Rooney doesn't feel that building new facilities is the only way
    to make more money.  Rather, Rooney suggest that the NFL share
    stadium revenues as they do with gate and TV receipts (Steve
    Halvonik, PITTSBURGH POST-GAZETTE, 2/21).
    

    Print | Tags: Facilities, NFL, Pittsburgh Pirates, Pittsburgh Steelers
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