Turner Broadcasting System officials indicated that if a
deal to build a $215M downtown basketball arena for the Hawks
isn't reached within a week, plans could "unravel," according to
Unger & Saporta in the ATLANTA CONSTITUTION. Turner officials
have begun "pursuing other options," including renewed talks with
Cobb County leaders, who have acquired 11.3 acres of "prime"
property, in the hopes of landing an NHL team for its own arena.
Turner execs want a new arena finished by fall '99 for the Hawks
and a possible NHL team that. A "marathon negotiating session"
is planned for Friday between representatives from Turner, the
city, Fulton County and the Atlanta-Fulton County Recreation
Authority to discuss the downtown proposal. Turner execs have
grown "increasingly frustrated and impatient" with city and
Fulton County officials over several "sticking points," and
unless bonds for the arena are issued by early January, proposed
legislation could jeopardize their tax-exempt status. The city
has been "unable to strike a deal" with Norfolk-Southern to buy
the railroad gulch where Turner officials plan to build and any
deal must be approved by the City Council, the Fulton County
Commission and Atlanta-Fulton County Recreation Authority which
could "cause further delays." William Shaw, Turner's lead
negotiator: "The crunch time is now" (ATLANTA CONSTITUTION,
10/31).
