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DENVER UPSETS ASCENT BY GOING PUBLIC WITH FINANCING OFFERS
Published October 17, 1996
The City of Denver said Ascent Entertainment Group has "ignored" six financial options for the proposed Pepsi Center, while Ascent President Charlie Lyons countered that the city has "broken its word" to the keep the talks secret, according to Lynn Bartels of the ROCKY MOUNTAIN NEWS. The city "publicly released its latest proposal" to show it has made concessions to Ascent, owners of the Nuggets and Avalanche. Bartels reports the city went public "to counter a growing opinion that Denver wasn't working with Ascent" and was "forcing" it to the suburbs. Ascent President Charlie Lyons: "I've kept my side of the agreement." Denver Mayor Wellington Webb wants Ascent "to help cover the money Denver would lose if the team moved from city-owned McNichols Arena to the Pepsi Center. In a letter to NHL Commissioner Gary Bettman, Webb wrote, "We have reviewed Ascent's plan of finance and we know that these options are feasible," adding he wanted to know by Friday "how we can move this deal forward" (ROCKY MOUNTAIN NEWS, 10/16).