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BANK OF BOSTON TO BACK KRAFT'S BOSTON STADIUM HOPES?
Published December 1, 1995
The political prospects of a new stadium for the Patriots is examined this morning by Joan Vennochi of the BOSTON GLOBE. With Gov. William Weld, whose administration reportedly promised Kraft a new stadium, now facing a run for the Senate, it is "unlikely that pumping a stadium for Kraft is high on his list." Kraft's prospects in the Legislature are "just as murky." But Vennochi writes, "even ardent stadium supporters" admit more money is needed. One possible new player is Bank of Boston, which loaned Kraft the money to buy the team. Bank of Boston officials "have talked quietly ... about coming forward as a major sponsor, much like Fleet Financial did by paying for the naming rights to FleetCenter." The deal could "stoke the bank's goodwill in the community to counter rival Fleet. A stronger revenue from a downtown stadium also makes Kraft's loan more secure" (BOSTON GLOBE, 12/1). Kraft said on Wednesday that he was "embarrassed" by disclosures of the Patriots' financial losses and that his need for a downtown stadium to turn a profit is "his problem alone." Kraft said he did not want to have to move the team, but added, "I don't want to be part of a team that I can't see being competitive" (David Halbfinger, BOSTON GLOBE, 11/30).