SBD/13/Facilities Venues

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  • MIKE BROWN SAYS BENGALS ARE FREE AGENT -- FREE TO LEAVE?

         Bengals President Mike Brown said yesterday the city has
    "breached its 1993 agreement" and given the club the right to
    terminate its stadium lease at the end of the year. Brown has
    said the city failed to complete a $1.2M payment by a February 28
    deadline.  Brown said the team had "carefully worded the
    agreement (with the city) that we needed the money for accounting
    and tax purposes.  (The city) just said details, details. ... The
    stadium problems are very real and we're falling farther and
    farther behind."  Hamilton County Commissioner Guy Guckenberger,
    Co-Chair of the Regional Stadium Task Force, said the Task Force
    "has to keep on moving and try to keep the Bengals and Reds
    happy" (Geoff Hobson, CINCINNATI ENQUIRER, 3/13).  Brown was
    asked if he would consider moving the team to Baltimore: "We're
    aware there are alternatives.  Whether Baltimore would be one I
    don't know.  Maybe it would."  Orioles Owner Peter Angelos, who
    failed in his quest for the Bucs, said he would "be interested in
    talking to him (Brown) whenever he is prepared to do so" (Vito
    Stellino, Baltimore SUN, 3/13).
    

    Print | Tags: Baltimore Orioles, Cincinnati Bengals, Cincinnati Reds, Facilities, Tampa Bay Buccaneers
  • TARGET CENTER BUYOUT APPROVED BY CITY COUNCIL

         The Minneapolis City Council finally approved a city buyout
    of the Target Center on Friday.  A final concession by T-Wolves
    buyer Glen Taylor was to agree to give the city one year's notice
    of "any intent to invoke the escape clause if his taxes increase
    by more than 2% a year." That will give the city two years,
    instead of one, to try to find a local buyer for the team.  The
    city will borrow up to $84.6M to buy the arena.  Taylor will pay
    no rent for his team to play at the arena, but the city will be
    repaid by money Taylor pays through property taxes on the
    building.  The city will also pay current team owners Marv
    Woflenson and Harvey Ratner $54.6M for the arena and assume some
    $22M of their existing debt on the arena.  Taylor's purchase of
    the team was contingent on public takeover of the facility
    (Minneapolis STAR TRIBUNE, 3/13).
    

    Print | Tags: Facilities, Minnesota Timberwolves
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