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SCHOTT AND BUSINESS LEADERS REACH AGREEMENT FOR NEW STADIUM
Published May 31, 1995
Reds Owner Marge Schott and the Cincinnati Business Community (CBC) announced plans yesterday to build a new ballpark on Riverfront West (Geoff Hobson, CINCINNATI ENQUIRER, 5/31). Although there is no chosen design and no formal land purchase, COX NEWS states the proposed stadium would seat 45,000 and cost about $200M to build. Schott: "Business leaders and I have agreed to work together to locate a new world-class stadium at Riverfront West that will benefit not only the Reds and their fans but the city of Cincinnati as well." Financing remains an issue with Gov. George Voinovich saying he would "support a state commitment" similar to what was done for Cleveland's Gateway Project. In Cleveland, state support amounted to 12% of the total cost of Jacobs Field and Gund Arena. Voinovich's Press Secretary Mike Dawson: "We have not yet received the details of the Cincinnati press conference, but the Governor would support state funding in the range of 15 percent" (Simms & Vinella, COX NEWS/DAYTON DAILY NEWS, 5/31). WHAT ABOUT THE BENGALS? According to Procter & Gamble Chair & CEO Ed Artzt, a member of the CBC, the Reds deal is good news for the Bengals. Artzt added the CBC is committed to keeping the Bengals in Cincinnati. Artzt: "I can't give you specific details, but discussions have been held with the ownership of the Bengals and with Mike Brown. We're all feeling pretty positive about that" (DAYTON DAILY NEWS, 5/31). In a statement, Bengals President and GM Mike Brown noted that the Reds move was cause for concern, but hopes things will work out. Brown: "We hope this will prove to be a first step toward an overall solution that will keep both of the city's major league franchises where we believe they belong" (Bengals). Brown reportedly has until late June to respond to an offer from the Maryland Stadium Authority to move the team to Baltimore (CINCINNATI ENQUIRER, 5/31).