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The Warriors and Oakland Coliseum Board members are close to a deal leading to a $100M reconstruction of the Oakland Coliseum Arena. Officials hope to announce the agreement this week, which would include the team signing a lease to play at the facility for "at least 10 years and perhaps as long as 30 years." The team will play next year at the Cow Palace in Daly City while the Oakland Arena is gutted and rebuilt, with 19,500 seats along with 4,000 club seats and 70 luxury boxes. The "reconstruction project will be privately financed with the arena itself used as collateral." Revenue from the rebuilt arena will pay for the loans. PSLs will be sold to "less than 50 percent of the seats," with the team marketing and selling the PSLs (Dennis Akizuki, SAN JOSE MERCURY NEWS, 2/21).
Baltimore NFL Owner Art Modell has told MD officials that "he is willing to help pay for the proposed Camden Yards football stadium," but it remains unclear how much Modell is willing to contribute. Legislators have asked for $24M to be paid over 30 years, but the team's plans "were expected to be outlined in a hearing today." Modell: "I think we've made some movement." Meanwhile, officials were close to an agreement on the Redskins stadium, in which Prince George's County and fans would pick up 1/3 of the state's $73M share. "Holding up the deal" was the team's reluctance to agree to a $1.25 surcharge on tickets or parking fees (Waldron & Smith, Baltimore SUN, 2/21). An editorial in today's Baltimore SUN slams Modell over the stadium financing (Baltimore SUN, 2/21).
The CO Legislature has yet to either introduce or offer a bill to authorize a ballot question on a new stadium for the Broncos. The lack of action "indicates there's not a whole lot of support in the House to go ahead with this," according to Speaker Chuck Berry (Colorado Springs GAZETTE PRESS TELEGRAPH, 2/21)....Architectural firm HOK has stopped work on a new Tampa Stadium because they aren't getting paid by the Tampa Stadium Authority. The Authority needs "about" $4M to finish the drawings, but reportedly has no further funds. Also, on March 1, about $10M "must be refunded to fans who bought" PSLs last fall. Fans who paid half the cost of a season ticket were to pay the rest March 1 unless no stadium deal had been reached (TAMPA TRIBUNE, 2/20).
The Brewers lost their bid to restructure their stadium financing plan, as WI legislators said shifting a $50M loan from the team to the state-created stadium district "violates the spirit" of the understanding passed last October. Team and state officials will continue to study options (AP/MILWAUKEE JOURNAL SENTINEL, 2/21). Columnist Michael Bauman writes the controversy surrounding the plan is unnecessary, as the team is "merely trying to stay in Wisconsin." Bauman speculates the Brewers were having difficulty obtaining the $50M loan (JOURNAL SENTINEL, 2/21).