ASCENT'S REVISION SHAKES THINGS UP OVER PEPSI CENTER

     Ascent Entertainments unveiled a revised proposal to build
the $150M Pepsi Center for the Nuggets and Avalanche, writes Lynn
Bartels of the ROCKY MOUNTAIN NEWS.  Unlike the '95 deal which
Ascent President Charlie Lyons called "financially unfeasible,"
the new proposal calls for Ascent to build, own and manage the
facility instead of giving it to the city and signing a 30-year
lease.  Other details:  Ascent will keep all revenue; Ascent will
be exempt from sales and property taxes for 25 years; and Ascent
will pay for all on-site improvements while Denver will pay for
off-site work, including an estimated $3.5M extension of nearby
Wewatta Street.  Denver Mayor Wellington Webb expressed
"frustration" at Ascent for constantly changing the terms while
city officials fear that by not owning the arena, they will have
little leverage to keep teams from moving (ROCKY MOUNTAIN NEWS,
7/26).