With negotiations over a downtown site for the proposed
Pepsi Center going "nowhere," officials of Ascent Entertainment
Group have "initiated" conversations with private land owners
about building in the suburbs south of the city, according to
Dave Krieger of the ROCKY MOUNTAIN NEWS. Although talks are
preliminary, sources close to Ascent said the company has
identified at least two land parcels that could accommodate the
$150M arena. The sources indicate that Ascent's "preference" is
to build at its downtown site, but "as time goes on" the
company's financial "imperatives" are beginning to "outweigh"
that preference.
The suburban Denver talks were prompted by an "increasing sense
of urgency" within Ascent as it continue to lose money on both
the Nuggets and Avalanche at city-owned McNichols Arena. Ascent
had hoped to open the Pepsi Center by '97-98, but the "prolonged
dispute" with the city over a buyout of the Nuggets' McNichols
lease made Ascent push back its timetable to '98-99. Ascent
officials say they need to break ground within three to six
months to have "any hope" of meeting the new timetable (ROCKY
MOUNTAIN NEWS, 11/13).
