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  • DEVILS MAY GET STATE HELP FOR IMPROVEMENTS TO ARENA

         NJ Gov. Christine Todd Whitman said the NJSEA is willing to
    pay for improvements to Brendan Byrne Arena and would potentially
    join with a private-sector partner to build more "revenue-
    producing" luxury suites, according to the Bergen RECORD.
    Whitman said this would address one of the Devils' key complaints
    "without putting taxpayers on the hook" (Fitzgerald/Hirsch,
    Bergen RECORD, 6/13).
              OTHER DEVILISH DETAILS:  ESPN's Keith Olbermann,
         reporting last night's Conference Finals win by the Devils,
         referred to the team as the "New Nashville Jersey Devils"
         and said, Remember this, Flyers fans, at least your team is
         certain to exist next year" ("SportsCenter," 6/13). In a
         N.Y. POST column, with the header "McMullen's Just a Whiny
         Ingrate," Jay Greenberg responds to Devils Owner John
         McMullen's claims that nobody has ever thanked him for
         bringing the Devils to NJ.  Greenberg writes that the only
         thing worse than a businessman who "wants to be subsidized
         for his own failures" is "one with a martyr complex" (N.Y.
         POST, 6/13).  Tony Coleman's column in the Nashville
         TENNESSEAN notes that it would not be unprecedented for a
         league champion to move citing, among others, the Brooklyn
         Dodgers and Boston Redskins (Nashville TENNESSEAN, 6/13).
    

    Print | Tags: Comcast-Spectacor, ESPN, Franchises, Los Angeles Dodgers, New Jersey Devils, News Corp./Fox, Philadelphia Flyers, Walt Disney, Washington Redskins, YankeeNets
  • HOW ARE THEY DOING IT? TIGERS LEAD IN TICKET SALES INCREASE

         The Tigers are leading MLB in the category entitled "highest
    percentage of ticket-sales increase," according to Lynn Henning
    in the DETROIT NEWS.  The category is a comparison of ticket
    sales through the first month of the '94 and '95 seasons.  Even
    though the Tigers are 22nd among MLB clubs in attendance, they
    have sold 27,595 more tickets this year than last.  But Tigers
    officials expressed  cautious optimism.  Tigers Marketing Dir
    Mike Dietz:  "It's not like we are going to beat a drum over it.
    We are not going to advertise that our attendance is up when our
    turnstile counts are probably lower."  Dietz also said that on
    most days the figures are pretty close and the Tigers have
    offered big discounts and been active with corporate tie-ins.
    Dietz: "We have been able to sell quite a few tickets to sponsors
    who can use the tickets for whatever purpose they choose"
    (DETROIT NEWS, 6/13).
    

    Print | Tags: Detroit Tigers, Franchises, MLB
  • ITT DISBANDS: MSG, ENTERTAINMENT HOLDINGS OUT ON THEIR OWN

         ITT Corp. said yesterday that its board of directors
    approved a management plan to "spin-off" its businesses into
    three separate companies:  ITT Corp. (including ITT Sheraton and
    ITT's interests in Caesar's World and Madison Square Garden), ITT
    Industries (automotive and defense), and ITT Hartford
    (insurance).  ITT Chair, President & CEO Rand Araskog will become
    Chair & CEO of the new ITT Corp. (ITT).  Araskog is expected to
    use the new ITT Corp. "as a vehicle to expand in the fast-growing
    leisure and entertainment businesses" (Eben Shapiro, WALL STREET
    JOURNAL, 6/14).  But Ronald Bowman, who will be No. 2 at ITT
    Corp., said the new company was already growing at a 30% rate
    adding "that any acquisitions in the foreseeable future will
    probably be small ones" (Paul Tharp, N.Y. POST, 6/14).  Lehman
    Brothers analyst Phua Young expects ITT Corp. stock to sell at
    between $37-47 a share (USA TODAY, 6/14).  ITT has a 50% stake in
    MSG, which includes the Knicks, the Rangers, Madison Square
    Garden and the MSG Network.  ITT is rumored to be interested in
    buying a network, as well as investing in Boston's proposed
    megaplex (THE DAILY).
    

    Print | Tags: Cablevision, Franchises, Madison Square Garden, New York Knicks
  • SPIRIT OF MANITOBA AGREES TO BUY JETS

         The Spirit of Manitoba agreed yesterday to purchase the
    majority shares of the Jets for $32M, according to today's
    WINNIPEG FREE PRESS.  The agreement is not final, however, until
    Spirit puts down a $10M deposit -- for which it has until Friday.
    The FREE PRESS' John Douglas notes that, "while the sale is a
    major step towards keeping the Jets in Winnipeg long-term, it is
    not over."  Spirit must now complete an agreement with the three
    levels of government to build a new 16,000-seat arena and raise
    another $20M to cover future losses.  Closure is "contingent on
    three issues being settled":  1) Private sector investment of
    $80M -- $60M of which has already been pledged;  2) Favorable
    rulings on re-capitalization and the charitable status of a fund
    to cover losses; and 3) Approval by the NHL.  In addition to
    buying shares for $32M, the new owners would pick up $8M in debts
    and be prepared to cover about $15M in expected losses next year
    (WINNIPEG FREE PRESS, 6/14).
    

    Print | Tags: Franchises, New York Jets, NHL
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