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JACOBS & CELTICS BOTH KEEP AN EYE ON MEGAPLEX DEALINGS
Published May 24, 1995
The potential of a 60,000-seat stadium in downtown Boston as part of a megaplex is a "concern" to Jeremy Jacobs, owner of the Bruins and the new FleetCenter. Until this point, Jacobs and his tenant, the Celtics, have "proceeded on the basis of pure need -- a true symbiotic relationship," according to the BOSTON GLOBE's Joan Vennochi. At the new FleetCenter, the two parties have a 10-year lease, with Jacobs holding the option to extend it to 15 years in year five; the Celtics pay rent of $1 a year; Jacobs keeps all concession sales; all ticket revenue goes to the Celtics, with team's per game take estimated at $800,000. But despite the agreement, Jacobs' "concern" with Patriots Owner Robert Kraft and a new facility "rests in what else takes place down the road in a new sports complex." Celtics President Steve Schram said he believes Jacobs is "very concerned" about competition and about the Celtics' future at FleetCenter. And Schram "isn't shy about stocking such worries." Schram: "We're purely a tenant. If someone were to come to us and say, 'We've got a facility, would you consider it down the road?' I think we'd have to in terms of our interest." Larry Moulter, President of New Boston Garden Corp., said FleetCenter can "coexist" with a 60,000-seat stadium, but added, "If they begin to behave and look like an arena, that is a serious problem, not just to the owner, but to the banks." Moulter expects the Celts to "honor their 15- year deal" (BOSTON GLOBE, 5/24).