SBD/29/Facilities Venues

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  • BREWERS TO POSSIBLE NEW INVESTORS: WE DON'T NEED YOU

         Laurel Prieb, Brewers VP/Corporate Affairs, said yesterday
    the team does not need new investors and will be able to meet
    their financing commitment to a new stadium by the March 22
    deadline, according to this morning's MILWAUKEE JOURNAL SENTINEL.
    Local sources said "several potential investors" are ready to
    bring new capital to the team to secure loans needed for the $90M
    financial commitment to a new facility.  But new investors would
    reportedly "demand major changes in the team's management
    structure."  Prieb: "We didn't need them last summer [when the
    stadium deal was signed] ... And we don't need them now.  If
    anything, our finances have improved."  Sources said Brewers
    President Bud Selig "would be especially resistant" to the idea
    of new investors if they "were contingent on his stepping down as
    President."  Spokespersons for Sidney and Allen Kohl, brothers of
    U.S. Sen./Bucks Owner Herb Kohl, said there is "no truth to the
    reports they are considering investing in the Brewers."  Also, a
    meeting between the team and Miller Brewing apparently has been
    set up to discuss stadium naming rights (Amy Rinard, MILWAUKEE
    JOURNAL SENTINEL, 2/29).
    

    Print | Tags: Anheuser Busch, Facilities, Milwaukee Brewers, Milwaukee Bucks
  • DETROIT STADIUM CAMPAIGN STRESSES CLARIFICATION

         Backers of the ballot initiatives to build a new Tiger
    Stadium in Detroit are raising $600,000 to use on TV, direct
    mail, radio, cable and print media ads in an effort to clarify
    the language of the measure.  Robert Sherefkin reports in CRAIN'S
    DETROIT BUSINESS that the two competing stadium proposals placed
    before voters March 19 will need examination by voters.  While a
    yes vote on Proposal A opposes spending city money for a new
    stadium, a yes on Proposal B supports the stadium.  Only Proposal
    A is binding.  Donors to the effort include GM, Detroit Edison,
    and Comerica Bank (CRAIN'S DETROIT BUSINESS, 2/26 issue).
    

    Print | Tags: Facilities
  • STADIUM NOTES

         Ascent Entertainment Group, which owns the Avalanche, has
    bought new dasher boards and glass it hopes to install before the
    playoffs (Colorado Springs GAZETTE TELEGRAPH, 2/28)....The White
    Sox "might step up" a proposed move to Tucson from Sarasota and
    share a facility with the Rockies next year.  The "deal is
    pending" on whether the White Sox will become the third team in
    Tucson in '98 with the Rockies and D'backs (ARIZONA DAILY STAR,
    2/29)...Two efforts were rejected in the MD legislature to charge
    Art Modell interest on a 10-year, $24M state loan he's been given
    to help fund a new stadium (WASHINGTON TIMES, 2/29)....IL Gov.
    Jim Edgar's plan to finance a $465M McDome in Chicago calls for
    an airport tax recently outlawed by the Federal Government.  A
    Cook County judge will hear a suit challenging the tax, which
    would provide 11% of McDome funding (CHICAGO SUN-TIMES,
    2/29)....Commenting on the Giants' drive for a new stadium, Glenn
    Dickey writes that "no teams have tried to privately finance
    stadiums because it's risky.  Financiers question whether the
    Giants can do it, and baseball people question whether the team
    will have enough money left to go after quality players" (S.F.
    CHRONICLE, 2/29).
    

    Print | Tags: Arizona Diamondbacks, Chicago White Sox, Colorado Avalanche, Colorado Rockies, Facilities
  • WALT DISNEY READY TO OPEN THE VAULTS TO RENOVATE THE BIG A

         Walt Disney Co. is reportedly prepared to spend close to
    $70M to renovate Anaheim Stadium "if it can finalize a deal with
    the city of Anaheim to fund the remaining" $30M, according to
    Fisher & Himmelberg of the ORANGE COUNTY REGISTER.  The Anaheim
    City Council meets today in a special session to discuss "and
    possibly vote" on the proposal -- the "final step" in Disney's
    purchase of a controlling share of the Angels.  Derek Irwin, AL
    Financial Manager, said $70M would be the "most significant
    contribution by an American League baseball team owner toward a
    stadium project in the last five years" (ORANGE COUNTY REGISTER,
    2/28).
    

    Print | Tags: LA Angels, Anaheim Sports, Facilities, Walt Disney
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