Vikings Stadium Funds Coming From Charitable Gaming Ratner To Submit Nassau Coliseum Plan Penguins Unveil Plans For Civic Arena Site Crandon Park Tennis Center Expansions In Doubt Mizzou Unveils Arena Renovation Project 49ers-Backed Tech Startup Looks For New Business Facility Notes Arizona State To Build Student-Athlete Center Detroit Approves $450M For Arena Bonds Sacramento Republic FC Purchases Land For Stadium
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).