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Mariners VP Paul Isaki said a matter of "very Japanese" dignity prevents the team from heading up efforts to build a new ballpark, according to the Tacoma NEWS TRIBUNE. Addressing the King County Council budget committee, Isaki said that Nintendo President Hiroshi Yamauchi considers his '92 purchase of the team a "gift" and could never consider asking taxpayers to build him stadium. Isaki said any vote on a tax would have to be held in '95 since the Mariners will need a new home before their Kingdome lease expires at the end of '96. Budget Committee Chairman Peter von Reichbauer: "The average person is going to question the Mariners' commitment. ... They should be leading the charge financially and physically" (Tacoma NEWS TRIBUNE, 6/1).
The MA megaplex commission's $943M convention center-sports complex "hinges on" $23.4M in annual payments from the hotel industry and calls for $90M in corporate contributions that are yet to be determined, according to this morning's BOSTON GLOBE. In approving financing yesterday, the commission "effectively tied the convention center and two sports facilities together, recommending that no individual portion go forward unless the entire project does" (Richard Kindleberger, BOSTON GLOBE, 6/2). NUMBERS BREAKDOWN: Of the $943M in costs, $90M would come from corporate contributions, $150M from the Red Sox and $703M would be financed. Annual financing costs are $75.4M. With $29M annually from the state, $5M from the Patriots and $45.3M from "dedicated revenue sources" (hotel and rental car fees, ticket surcharges and stadium parking), the commission projects annual revenue at $79.3M. Costs: $79.7M for site acquisition, $162.2M for infrastructure, $547.4M for convention center and domed stadium, $150M for the baseball park, $6.7M for legal and other fees (BOSTON GLOBE, 6/2). Gov. William Weld meets this week with a top official from ITT/Sheraton, which has expressed interest in becoming an investor. An ad seeking corporate investors has drawn 13 responses (Meg Vaillancourt, BOSTON GLOBE, 6/2).
The Tampa Sports Authority (TSA) is moving forward with a plan to build a new $168.1M stadium for the Bucs, according to the ST. PETERSBURG TIMES. Faced with the choice of renovating, rebuilding, or building a new stadium, the TSA made its decision based on the ability of the architects to cut the price of a new stadium from $210M to $168M. The TSA's financing committee is hoping the bulk of the financing will come from PSLs (ST. PETE TIMES, 6/2). Planners hope to raise up to two-thirds of the costs through private contributions and persuade taxpayers and lawmakers to pay the rest (Jim Kenyon, TAMPA TRIBUNE, 6/1).