The Brewers may be inching closer to completing financing of
their proposed new stadium, according to Kenneth Lamke of the
MILWAUKEE JOURNAL SENTINEL. An offer by the Brewers lender bank,
NationsBank, to share team collateral with the Wisconsin Housing
and Economic Development Authority (WHEDA) might "allow WHEDA to
make a $50M loan to the team as originally envisioned in state
legislation" last October. That would allow construction of a new
facility to begin. Details of the deal are expected to be
completed before a stadium district board meeting Monday. Under
collateral-sharing, if the team were to default on the estimated
$55M in loans they already have with NationsBank and on the
estimated $50M WHEDA loan, the bank and WHEDA would split
whatever team revenue was available to cover the loans.
Currently, NationsBank has first crack on all Brewers revenue
(MILWAUKEE JOURNAL SENTINEL, 4/12). Brewers VP Laurel Prieb and
Charlotte officials denied any contact on relocation (MILWAUKEE
JOURNAL SENTINEL, 4/12).
-end-
In New York, Larry Brooks reports on the Whalers' efforts to
remain in Hartford. Sources say that while Las Vegas is
ownership's first choice for relocation, the league will "not
approve such a move." Cleveland is being mentioned, but there's
still "major NHL interest in Nashville" (N.Y. POST, 4/12)....Reds
Owner Marge Schott has cancelled the SportsTicker out-of-town
scores to Riverfront in a cost-saving measure. Schott: "Why do
[fans] care about one game when they're watching another?"
("SportsCenter," ESPN, 4/11)....New 76ers President Pat Croce at
Monday's home game, after hearing Jimi Hendrix on the PA: "Why
Jimi Hendrix? You can't get a crowd up to Jimi Hendrix. Hendrix
is for getting stoned in the corner" (PHILADELPHIA INQUIRER,
4/12)....First Bank has reportedly sold its 5% interest in the T-
Wolves to Bill Sexton for approximately $4M. Sexton had pursued
the team before it was bought by Glen Taylor. Taylor also
purchased the 10% held by former Owners Marvin Wolfenson and
Harvey Ratner. Taylor said he and his partners will lose $1M this
year (Minneapolis STAR TRIBUNE, 4/12).
