SBD/30/Facilities Venues

Print All
  • MAVS MAY STILL BE LOOKING TO THE BURBS

         "A source familiar with the Mavericks' new arena
    negotiations" says the team is looking at a site in suburban
    Carrollton, TX, according to this morning's FORT WORTH STAR-
    TELEGRAM.  The site is a block from Lewisville, where voters have
    already turned down a tax increase proposal for a new facility.
    Richie Whitt reports that Southwest Airlines and Blockbuster "are
    the leading candidates" to land the arena's naming rights (FORT
    WORTH STAR-TELEGRAM, 6/30).
    

    Print | Tags: Dallas Mavericks, Facilities, Southwest Airlines, Southwest Sports Group
  • RED SOX TO REACH OUT TO RESIDENTS AROUND PROPOSED NEW PARK

         Red Sox Exec VP John Buckley said yesterday "the team is not
    looking at other possible sights in the wake of a Tuesday public
    hearing where some 600 South Boston residents expressed stiff
    opposition" to their plans for a new park.  In Boston this
    morning, Richard Kindleberger reports that the team will "seek
    out South Boston community and business leaders to hear their
    concerns" (BOSTON GLOBE, 6/30).  Phil Primack reports that "a
    well placed State House source" says the Legislature will not
    take action on a megaplex bill this summer (BOSTON GLOBE, 6/30).
    

    Print | Tags: Boston Red Sox, Facilities
  • WASHINGTON LOOKING AT FINANCING OPTIONS FOR NEW ARENA

         DC officials are "discreetly" seeking a better deal to
    finance the city's share of the costs for the proposed downtown
    sports arena, according to the WASHINGTON BUSINESS JOURNAL.  One
    "eye-catching" offer is from Morgan Stanley, which financed
    Baltimore's Camden Yards.  NationsBank and Crestar Bank have
    offered to loan the city about $53M to cover site preparation
    costs, with the loan being repaid by a new city tax on
    businesses.  But Michelle Bernard, Chair  of the DC Redevelopment
    Land Agency, which controls the city-owned site, said last week
    the NationsBank/Crestar financing proposal was "preposterous" and
    "not economically sound" for the District (Thomas Hall,
    WASHINGTON BUSINESS JOURNAL, 6/30 issue).  In this morning's
    WASHINGTON POST, Michael Fletcher reports that "residents and
    business owners of Chinatown" -- where the new arena will be
    located -- want Caps/Bullets Owner Abe Pollin to "address more of
    the community's concerns" (WASHINGTON POST, 6/30).
    

    Print | Tags: Bank of America, Facilities
  • WITH FIVE MINUTES TO SPARE, CINCY COUNCIL APPROVES STAD PLAN

         On a "long day pockmarked by tough talk, bombs of confusion
    and acrimonious debate," Cincinnati's City Council approved a
    $540M plan to finance new stadiums for both the Reds and Bengals
    through an increase in Hamilton County's sales tax from 5.5% to
    6.5%.  The 5-4 vote came five minutes before a midnight deadline
    set by Bengals Owner Mike Brown for a stadium plan to be in
    place.  Brown said he would negotiate exclusively with MD Stadium
    Authority officials if a plan was not agreed upon.  The tax will
    go into effect October 1.  The stadiums, to be constructed along
    Cincinnati's riverfront, are expected to be completed by 2000.
    Brown said he "couldn't be happier":  "We cried out and people
    heard us" (Green, Goldberg & Michaud, CINCINNATI ENQUIRER, 6/30).
    Brown, in a statement: "The Bengals belong in Cincinnati.  I've
    never felt any other way"  (Bengals).   THE PLAN:  TAXES:
    Hamilton County will raise their sales tax from 5.5% to 6.5%,
    subject to referendum which could be go on the ballot if enough
    signatures are collected by opposition groups.  The state and
    teams will also contribute financing; OPERATIONS: The county will
    operate and maintain the stadiums;  SCHOOLS:  Cincinnati's public
    schools will receive funding, at least $10M/year in building
    improvements;  PARKING: County maintains "substantially the same"
    amount as now available at Riverfront Stadium; RIVERFRONT:  The
    county will assume all debts, obligations and responsibilities
    for the old stadium.  The city will give the county all revenue
    collected from the stadium.  The team's city-owned practice
    facility will also be transferred to the county;  MARKETING:  The
    Cincinnati Business Committee and Greater Cincinnati Chamber of
    Commerce will form a marketing committee to market and lease new
    skyboxes and seats;  FINANCES:  Approximately $100M will be
    raised from the sales tax annually, with $46M for property tax
    relief, $35M for stadium financing, and additional funds for a
    new jail and other projects (CINCINNATI ENQUIRER, 6/30).
         THE PARKS:  The Reds new stadium will have about 45,000
    seats and have a similar design to Camden Yards and Jacobs Field.
    The football stadium will be constructed on Riverfront's site and
    seat around 70,000 with 100 corporate suites (CINCINNATI
    ENQUIRER, 6/30).
    

    Print | Tags: Cincinnati Bengals, Cincinnati Reds, Facilities
Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug