Ascent Entertainment Group Inc., a division of Comsat
formerly known as Comsat Entertainment, stated in its initial
public offering that "if the company decides it's unfeasible" to
build the $135M Pepsi Center in Denver, "it could move the venue"
-- and Nuggets and Avlanache -- out of the city or state.  In the
current DENVER BUSINESS JOURNAL, Paula Moore reports while
sources say moves of the teams are "not imminent or even actively
being considered right now," Ascent's statement "is a
demonstration to prospective shareholders that it has considered
all its alternatives on the Pepsi Center issue."  Although the
teams have leases with the city and county of Denver at McNichols
Arena through 2008, Ascent has told the city its teams won't play
in an "aging, unprofitable" McNichols Arena in '98.  Moore
writes, "One reason Ascent wants to beat a path out of McNichols
is that it expects the Avalanche to lose money as long as it
plays there."  Moore adds the Nuggets are profitable, but "not
that profitable."  Comsat wants the Pepsi Center in Denver's
Lower Platte Valley to be ready by the '98-99 and is offering 20%
of its assets in the IPO.  Plans were to begin construction this
year, but a rift with former partner (now current Kings part-
owner) Phil Anschutz ended those plans.  Ascent now "is crawling
toward" purchasing a site in the Central Platte Valley near
downtown and Coors Field (DENVER BUSINESS JOURNAL, 11/24-30
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