Source: Raiders Stadium Will Cost $200M Less Golden Knights' Practice Facility To Be Top-Flight St. Louis MLS Investors Hopeful Funding Vote Passes Georgia State Updates Turner Field Construction Rays' Ballpark Site Search Still Complicated Braves Will Help Fans With SunTrust Traffic Raiders' Vegas Stadium Financing Remains Complicated Sacramento, Kings To Refinance '97 Arena Loan Facility Notes Proposal Made To Lift Crandon Park Restrictions
ILITCH'S FOXTOWN PLANS FOR HIS TIGERS, DO- DA, DO-DA
Published March 30, 1995
After the strike ends, talk of a new downtown baseball stadium in Detroit will "be renewed, only this time there figures to be more than debate," according to the DETROIT NEWS' Lynn Henning. Henning writes there is likely "to be action" on the proposed $270M Foxtown ballpark, as Tigers Owner Mike Ilitch plans to back a 30-year, $200M-plus bond sale. In addition, Henning says stadium plans will move forward because of broad bipartisan support and leadership from the State House, something that "had been lacking" in earlier talks. Although some state assistance will be needed -- including gaming revenue from a proposed casino --the "bulk of a new Foxtown stadium will be Ilitch's responsibility." Ilitch will have to finance close to $8M a year to satisfy the bond -- money which would be raised by a ticket surcharge, luxury seating, and advertising. And he would lease, not own, the stadium. Henning predicts "no participation on the part" of the Lions, which is "just the way the Tigers want it" (DETROIT NEWS, 3/29).