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NEW STADIUM COULD TRANSLATE INTO A $100M BILL FOR TAMPA
Published June 22, 1995
Tampa Stadium Authority Chair Chuck Davis said Wednesday that local business told him the TSA "probably" won't be able to raise half of the estimated $168M stadium cost through the sale of PSLs, as they had hoped, report Joe Henderson and Kevin Walker in the TAMPA TRIBUNE. A report from sports marketer Max Muhleman, to be ready in about a month, will outline how much the area can reasonably expect to raise through PSLs. Henderson and Walker report the project could have "nearly $100M in unfunded needs," with the "most talked-about" funding options being a restaurant tax, an increase in the hotel tax, ticket surcharges or a utility tax. Stadium backers have acknowledged taxpayer support will be needed, but had hoped it would be $70M or less. Hillsborough County Commissioners agreed Wednesday to give Bucs Owner Malcolm Glazer a break on the rent if attendance falls below 55,000 per game and offer him concession and parking profits if attendance is above 55,000. That should allow Glazer to wrap up his purchase of the team. NationsBank has delayed closure on the deal pending those financial guarantees (TAMPA TRIBUNE, 6/22). Columnist Tom McEwen writes, "So the Buc ship is better rigged and appears to be back on course" (TAMPA TRIBUNE, 6/22). Pat Yasinskas writes that the NFL, through the Raiders, is sending a message to which Bucs supporters may want to pay attention, "It's no longer difficult to relocate an existing team" (TAMPA TRIBUNE, 6/22).