SBD/18/Facilities Venues

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  • MINNESOTA LEADERS TO PUT NEW STADIUM VOTE TO THE PUBLIC

         MN legislative leaders announced yesterday they will put a
    new Twins stadium to a public referendum, according to the
    Minneapolis STAR TRIBUNE.  Leaders are unsure when the question
    will come up, but polls done for the Twins show the best time to
    get a Yes vote could be the September 10 primary.  Some fear the
    issue would face a closer vote in a more crowded November general
    election.  The vote is non-binding, and even with voter approval,
    legislators would still need to back some public financing.  A
    bill to authorize a referendum asks voters "if they favor
    construction of an open-air, retractable-canopy stadium, financed
    by contributions from the Twins, private sources, a hotel-motel
    and liquor tax and a surcharge on admissions to the stadium."
    The question does not mention cost or location (Robert Whereatt,
    Minneapolis STAR TRIBUNE, 1/18).
    

    Print | Tags: Facilities, Minnesota Twins
  • NETS DROP SUIT AGAINST NJSEA; WILL RECEIVE A CUT OF AD MONEY

         The Nets yesterday reportedly dropped a lawsuit against the
    NJ Sports and Exposition Authority which challenged the name
    change from Brendan Byrne to Continental Airlines Arena.  The
    deal would reportedly give the Nets a "piece of the" $29M naming
    rights deal and other ad revenue.  A source told AP that some the
    revenue includes "some that Coca-Cola pays for a sign right
    outside the arena" (N.Y. POST, 1/18).  The deal reportedly brings
    the Nets' lease closer to the "better terms enjoyed" by the
    Devils (Bergen RECORD, 1/18).
    

    Print | Tags: Coca-Cola, Continental Airlines, Facilities, New Jersey Devils, Brooklyn Nets, YankeeNets
  • QUESTIONS OVER BREWERS FINANCES COULD DELAY STADIUM

         The start of construction on a new stadium for the Brewers
    could be delayed because of problems with the team's finances,
    according to the MILWAUKEE JOURNAL SENTINEL.  Although
    groundbreaking is scheduled for March 17 or 18, a "delay of a few
    weeks is almost inevitable," and one source said groundbreaking
    "could be put off by three or four months."  The "elements in
    doubt" appear to be the team's $90M share of the stadium's cost,
    including a $50M loan from the WI Housing and Economic
    Development Authority and $40M that they agreed to raise
    themselves.  WHEDA Exec Dir Frank Ruf said the process was
    running behind and said they are "very concerned.  There are a
    lot of hurdles if we're going to meet the March 17 deadline."
    One problem complicating the WHEDA loan is the "fact that three
    major financial institutions have liens on Brewers revenue
    sources that could take precedence over the Brewers' obligation
    to WHEDA bond-holders."  The team also has not "nailed down their
    direct" $40M funding -- $25M is to come from naming rights, but
    the team just hired a new Vice President to sell those rights on
    January 5 (MILWAUKEE JOURNAL SENTINEL, 1/18).
    

    Print | Tags: Facilities, Milwaukee Brewers
  • TWO WILLIES, SAY HEY AND HIZZONER, KICK OFF GIANTS CAMPAIGN

         The Giants will kick off their campaign for a new, privately
    financed stadium on Saturday by holding "Opening Day of the Yes
    on B Campaign."  The event will consist of newly-elected Mayor
    Willie Brown and Hall-of-Famer Willie Mays opening the campaign
    headquarters (Giants).
    

    Print | Tags: Facilities
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