SBD/29/Facilities Venues

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  • BREWERS DISCOVERING UPS AND DOWNS OF BOND ISSUE

         Settling on the proper interest rates for the bonds to help
    finance the Brewers' new $250M stadium "is proving to be a tough
    balancing act," according to Kenneth Lamke of the MILWAUKEE
    JOURNAL SENTINEL.  While the rate must be high enough to attract
    bond buyers, it must be low enough so the Brewers can afford to
    pay them back -- and so far that medium has not been found.
    Timothy Sheehy, President of the Metropolitan Milwaukee
    Association of Commerce:  "The teeter-totter swings back and
    fourth."  Two other factors --the coverage ratio and length of
    the bonds -- also have yet to be worked out.  Sheehy said he
    "wouldn't be surprised" if Northwest Mutual Life "played a role"
    in buying some of the bonds (MILWAUKEE JOURNAL SENTINEL, 5/25).
    Today's WALL STREET JOURNAL reports $60M of the stadium will be
    financed by privately placed debt so the team won't have to open
    its books to public inspection (WALL STREET JOURNAL, 5/29).
    

    Print | Tags: Facilities, Milwaukee Brewers
  • MCHALE UPBEAT ABOUT STADIUM; RUMORS OF A FORD TAKEOVER

         Tigers President John McHale said he "is optimistic" that
    legal challenges from the Tiger Stadium Fan Club will be overcome
    and that construction on the new Stadium will begin in December,
    according to Joseph Serwach of CRAIN'S DETROIT BUSINESS.  McHale
    said, while the stadium could be completed within two years after
    ground breaking, it "will probably take 30 months" in order to
    avoid mistakes.  In a separate piece, Matt Roush reports that
    Denise Ilitch Lites, daughter of Tigers Owner Mike Ilitch and
    president of Olympia Development Inc., will return to Detroit to
    help attract business and entertainment opportunities to the new
    stadium area.  Ilitch Lites said she will hire at least one
    senior staff member and a support staff soon but that her company
    will not be involved directly in land acquisition for the stadium
    itself, which is being handled by the city (CRAIN'S DETROIT
    BUSINESS, 5/20).
         RUMOR-DU-JOUR:  The DETROIT NEWS' Joe Falls reports that
    "the rumor bouncing around" is that Ilitch lacks the funds to
    build the new ballpark and that Edsel Ford will buy the Tigers
    and share a downtown stadium with Bill Ford's Lions.  McHale:
    "We've had continuing talks with the Lions, but there is nothing
    to it right now.  And we do have the money to build our own
    stadium" (DETROIT NEWS, 5/26).
    

    Print | Tags: Detroit Lions, Detroit Tigers, Facilities
  • RAPTORS AREN'T CROSS OVER STADIUM DIRECTOR'S DEPARTURE

         Jay Cross, who has currently been the stadium project
    director for the Raptors' Air Canada Centre, has been hired by
    the Heat to work on their proposed $165M arena, writes Robert
    MacLeod of the Toronto GLOBE & MAIL.  Raptors President John
    Bitove Jr. insisted Cross's departure has nothing to do with the
    fact that construction of the Air Canada Centre continues to be
    delayed by legal details, and that he encouraged Cross to take
    the Heat job.  Bitove:  "They are where we were two years ago.
    They need someone to put it together to make it happen."  The
    Raptors also announced that they will hold part of their training
    camp next season at the 4,200-seat Molson Centre in Barrie, 45-
    minutes north of Toronto (Toronto GLOBE AND MAIL, 5/28).
    

    Print | Tags: Facilities, Maple Leaf Sports and Entertainment, Miami Heat, Toronto Raptors
  • STADIUM NOTES

         MA House Speaker Thomas Finneran has named former BOSTON
    HERALD sports business reporter Phil Primack as a policy aide.
    The appointment of Primack, "who wrote extensively on casinos and
    the megaplex, was greeted with a gulp from insiders with a stake
    in those issues" (BOSTON GLOBE, 5/26)....Redskin Owner Jack Kent
    Cooke said he will officially break ground for his new 78,600-
    seat stadium in June (WASHINGTON TIMES, 5/25)....In an article
    detailing the boom of new sports stadiums, Dan McGraw of U.S.
    NEWS & WORLD REPORT writes that $7B has been spent or committed
    in the past three years to build or renovate 30 major sports
    facilities in America.  McGraw warns, however, that if the
    "supply of big-revenue-producing luxury suites" outstrips demand,
    the "stadium boom could go bust" (U.S. NEWS & WORLD REPORT,
    6/3)....Jack Wilson, head of The Greater Tampa Chamber of
    Commerce, has begun working with the Arlington, VA-based Public
    Opinion Strategies to help "combat ... areas of voter anger" over
    proposed sales tax increases to help fund a new stadium for the
    Bucs (TAMPA TRIBUNE, 5/27).... Canlan Investment Corp. has
    announced plans to build an arena containing four NHL-sized ice
    pads in the Toronto suburb of Etobicoke (Toronto GLOBE AND MAIL,
    5/25)....In an article on numerous price hikes at Madison Square
    Garden, the N.Y. POST's Li & Francescani write, "MSG is slam-
    dunking New York Sports fans ... everyone from high-roller
    luxury-suite holders to the average Joe" (N.Y. POST, 5/26).
    

    Print | Tags: Cablevision, Facilities, Madison Square Garden, NHL, Tampa Bay Buccaneers, Wilson Sporting Goods
  • WITH VA SITES FLOUNDERING, D.C. STADIUM RESURFACES

         The DC Sports Commission plans to hire a consultant within
    the next few weeks to examine the feasibility of a downtown
    baseball stadium near the MCI Center, which is currently under
    construction.  Lena Sun of the WASHINGTON POST reports the
    Commission has been talking to two groups, The Virginia Baseball
    Club, led by William Collins, and the L'Enfant Group, headed by
    Calvin Hill, about bringing a team to the DC area.  The
    consultant would study the availability of land and the traffic
    issues related to a stadium at Gallery Place (WASHINGTON POST,
    5/28).  Meanwhile, the FAA has asked Arlington County, VA, to
    perform $7,500 worth of studies to determine whether a stadium
    would interfere with navigation and air traffic control of planes
    attempting to land at nearby National Airport (Lipton &
    Nakashima, WASHINGTON POST, 5/29).  Loudoun County, VA, may re-
    enter the stadium derby with site west of Dulles Airport.  Unlike
    a previous plan, rejected because the county would have had to
    foot a $30M bill, the new strategy calls for area entrepreneurs
    or the Virginia Baseball Stadium Authority to buy the land and
    build the stadium (WASHINGTON TIMES, 5/29).
         VA JACKPOT:  If a site for a new stadium in Northern
    Virginia is settled on, state legislators say that the lottery
    "is shaping up as the most likely" form of state money.  The
    WASHINGTON TIMES reports that because Gov. George Allen opposes
    any tax increase, legislators have had to look to new lottery
    games and "a hodgepodge of small user fees" to pay for the
    stadium (WASHINGTON TIMES, 5/28).  NEED A LEADER:  The POST's
    Eric Lipton examines the lack of a leader driving the bid for a
    stadium in VA, with some blaming "Disney-itis" -- a fear of being
    associated with a failed project like the Disney theme park in
    Prince William County (WASHINGTON POST, 5/25).
    

    Print | Tags: Facilities, Walt Disney
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