Cavs, Indians Get Public Funds Approved UNC Keeps Smith Center Renovations On Hold Bruins Eye Corporate Events At New Facility Raptors Need One More Vote For Practice Facility Levi's Stadium Dealing With Sod Issues College Facility Notes College Football HOF To Open On Budget Legends-Forest City Deal For Nassau Breaks Down Baylor Hosts Media Tour Of McLane Stadium HOK Acquires 360 Architecture For Undisclosed Price
Upcoming Conferences and Events
BREWERS GIVEN THREE WEEKS TO GET STADIUM FINANCING STRAIGHT
Published March 26, 1996
Milwaukee's Professional Baseball Park District Board gave the Brewers three weeks to finalize the team's $90M contribution toward financing of a new ballpark. The board also voted 9-4 to suspend a five-county sales tax hike by May 1 if it is not satisfied with the team's contributions. The board heard from Brewers President Bud Selig and VP/ Legal Counsel Wendy Selig- Prieb twice during a lengthy session yesterday (AP/ESPNET SportsZone, 3/26). Board Chair Robert Trunzo concluded there was "still a shortfall" in the Brewers' package. Problems centered around the "present-day value" of part of the team's package, which analysts said left the Brewers' proposal about $10-15M short of its intended $40M goal. Included in that was the naming rights deal with Miller Brewing, which had been expected to have a present value of $20M. However, lender bank NationsBank placed that value at only $15M. Another problem was the board's estimate of concession contracts at $10-15M, not the $20M cited (Amy Rinard, MILWAUKEE JOURNAL SENTINEL, 3/26).