SBD/23/Facilities Venues

PSL'S COULD HELP FUND MCDOME IN CHICAGO

     "Bears fans would pay up to $7,000 apiece for the right to
buy tickets to games played at a domed stadium near McCormick
Place" under developer Richard Stein's plan --but that still
leaves a $50-$80M "funding gap," according to the CHICAGO SUN-
TIMES.  The plan reportedly assumes the $340M stadium will be
partly financed by PSLs.  The one-time PSL fee would range from
$1,500-7,000, with the average around $3,500.  The new stadium
would also include 171 skyboxes leased for an average of $85,000
per year.  Sources said Stein "is so convinced that the PSL
concept will fly in Chicago," he offered to purchase them all
himself in exchange for the right to turn around and sell them
for market price.  Bears President Michael McCaskey is "unlikely
to take him up on the offer."  Mayor Richard Daley "is so
skeptical" about Stein's assumptions, he has asked for an
independent review of Stein's revenue and cost estimates (Fran
Spielman, CHICAGO SUN-TIMES, 8/23).
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