After a 20-hour negotiating session, Bucs Owner Malcolm
Glazer and Tampa area officials have agreed on a financing plan
to keep the Bucs from moving, according to USA TODAY. NFL
President Neil Austrian said the plan would authorize
Hillsborough County to enact a tax to fund a new $168M stadium --
with a 1% rental car tax likely to generate $18M a year. Glazer
has pledged to contribute $5.8M a year for 30 years (USA TODAY,
3/17). Yesterday, the TAMPA TRIBUNE's Joe Henderson reported
that, even with a deal, the proposal will likely "fall apart"
unless the FL Legislature gives the city or county the right to
impose the tax. Details: Glazer's annual payment can be reduced
if season ticket commitments fall below a certain level; the Bucs
will be allowed to negotiate a "backup agreement" in another city
in case financing fails in Tampa; ticket surcharges will be used
to pay for a portion of the facility; and a new $10-15M practice
facility is included (TAMPA TRIBUNE, 3/17).
TOUGH ROAD AHEAD: Even with a new stadium, the Glazers have
a "tough road" to win back corporate and community support,
according to the ST. PETERSBURG TIMES. Paul Wilborn reports the
"protracted and painful" negotiations and "contentious" public
statements have "soured and frustrated" many business leaders who
once supported the team and the stadium effort (ST. PETERSBURG
TIMES, 3/17).
