SBD/6/Franchises

NASHVILLE WILL THINK OF OILERS EVERY TIME THEY FLUSH

     Nashville Mayor Phil Bredesen presented a $292M financing
package to lure the Oilers to the Nashville Metro Council
yesterday that "appeared to have few opponents," according to
this morning's HOUSTON CHRONICLE.  The plan will give the team a
$124.3M, 65,000-seat open-air stadium with 100 luxury boxes and
10,700 club seats.  The Oilers will receive $1M a year to manage
the facility and $28M in relocation costs, including money to
help the team through "expected lean years" in Houston until the
move in '97.  The financing includes $71M from PSLs, $84.3M from
the state, and $143M from the city.  The city's contribution
includes $55.1M from water/sewer revenues -- currently going
toward EPA-mandated sewer improvements.  Taxes would not
increase, but $44M would come from redirecting a 1% hotel tax
from the general fund to the stadium.  Oilers Exec VP Mike
McClure said the deal has "many Oilers concessions," including
higher rent than the Panthers and Rams are paying in their new
facilities (HOUSTON CHRONICLE, 10/6).
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