SBD/22/Facilities Venues

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  • NEW ARENAS HELP MINOR SPORTS

         In San Jose, Jody Meacham examines the increase of minor
    league teams in "major league" markets.  Among the points
    highlighted in the piece:  "As the business of sports turns more
    to marketing and entertainment, customer bases are expanding
    beyond fans to those who just want an entertaining night on the
    town."  Meacham also writes that while "it doesn't take an
    enormous marketing effort" for small teams in areas like San Jose
    to be successful, they still are "heavily dependent on businesses
    buying large blocks of season tickets" (SAN JOSE MERCURY NEWS,
    2/21).
    

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  • SEATTLE CENTER NAILS DOWN KEY SPONSORSHIP

         City officials in Seattle announced they have reached
    agreement with Key Bank of Washington to become title sponsor of
    the Seattle Center Coliseum.  The facility, which is home of the
    SuperSonics, is currently undergoing a $74M renovation to be
    completed in October.  It will be called The Key Arena at Seattle
    Center.  The Cleveland-based bank agreed to "pay the city $15M
    over 15 years," starting with a payment of $750,000 and growing
    by 4% in each subsequent year of the deal.  Key Bank will also
    display its name on the four-sided rooftop-structure, above the
    east and west entrances, and on the basketball court and ice
    surface.  Seattle Mayor Norm Rice said the deal will help the
    city renovate without tax dollars and that the Key Arena will be
    the "first publicly financed arena in the nation fully supported
    by earned income from the building."  After renovation, the
    facility will seat more than 17,000, with 58 luxury suites and
    1,000 club seats (Alex Tizon, SEATTLE TIMES, 2/21).  The
    partnership with Key also "greatly diminishes, if not wipes out,"
    Seafirst Bank's more than 20-year affiliation as a major Sonics'
    sponsor.  Besides the Sonics, the arena will be the home of the
    WHL Thunderbirds and the CISL Seadogs (Tacoma NEWS TRIBUNE,
    2/22).
    

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  • SHAWMUT CENTER NAMING RIGHTS INCLUDED IN FLEET MERGER

         The $3.7B acquisition of Boston's Shawmut Bank by Fleet
    Financial Group or Providence, RI, includes naming rights to the
    new Boston Garden, which was to have been called the Shawmut
    Center.  According to this morning's BOSTON GLOBE, Fleet CEO
    Terrence Murray said an actual name won't be chosen for "about
    two weeks."  But Fleet Forum has been mentioned (Pham & Reidy,
    BOSTON GLOBE, 2/22).  Columnist Michael Gee suggests that New
    Boston Garden Corp. President Larry Moulter not place the Fleet
    logo on center ice too quickly, considering the instability of
    the corporate world.  "Big fish get swallowed by even bigger fish
    all the time.  The new Garden isn't due to open until September.
    By that time it might have to be named the Citibank Center, the
    Credit Agricole Center, the Nomura Securities Forum, or the
    Bundesbank Barn" (BOSTON HERALD, 2/22).
    

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  • STATE OF THE STADIUM: CAROLINA ON OUR MINDS

         The Panthers will play in the NFC West starting next season.
    Until their facility in Charlotte is ready in '96, the team will
    play at Clemson's "Death Valley" in SC.  The Panthers will pay
    close to $3M in rent at Clemson for the '95 season.  One unique
    feature at Carolinas Stadium is the lack of public subsidies.
    The stadium will be paid for by the sale of Permanent Seat
    Licenses, and through private funds.   The following is the final
    installment (No. 30) of THE SPORTS BUSINESS DAILY'S profile of
    NFL infrastructure.
    STADIUM: Carolinas Stadium, Charlotte, N.C.
    CAPACITY: 73,000 or 73,500 — 11th highest in the NFL
    DESIGNED: Designed for football by the HOK Sports Facilities Group of Kansas City, MO.
    COMPLETED: Facility will be completed by August '96.
    OWNERSHIP: Owned and operated by the Carolina Stadium Corp.
    LUXURY SEATS: 135 suites — two kinds, 10 person suites, and 40 person suites on two levels along the sideline. There will also be approximately 10,800 club seats with amenities.
    COST: $160M plus $50M for 33 acres of land. Paid for bycombination of $100M raised through the sale ofPermanent Seat Licenses, and $60M through privatefunds.
    CONCESSIONS: Volume Services — Carolina Stadium Corp. willreceive all concession revenue.
    ADVERTISING: Team will handle all stadium advertising and receiveall revenue.
    GAME-DAY: Panthers will provide all game-day personnel.
    MAINTENANCE: Carolina Stadium Corp. handles all repair.
    VISITING GATE: Visiting team will receive $1.2M per game.
    RENT: Team will make no rent payment.
    LEASE: Not Available.
    (Source: Charlie Dayton, Panthers Public Relations).

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