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Facilities Venues

AEROS SIGN LETTER OF AGREEMENT FOR NEW HOUSTON ARENA

          "Hoping to end two years of negotiations" over a
     proposed downtown Houston arena, owners of the IHL Aeros
     signed a letter of agreement with Mayor Bob Lanier
     yesterday, according to Williams & Hohlfeld of the HOUSTON
     CHRONICLE.  If Rockets Owner Les Alexander does not sign the
     letter by April 18, the Aeros will get exclusive negotiating
     rights for the building.  The two teams are "stalemated"
     over revenue and management control of the proposed
     facility.  Lanier offered the two sides four conditions: The
     arena will be city-owned; an independent contractor will
     operate the facility; terms of any agreement "shall not
     advance the interests of one part over another;" a long-term
     assurance that the city will have pro basketball and hockey. 
     (HOUSTON CHRONICLE, 4/10). Even though financing has not
     been lined up for the new arena, local companies "are
     already considering paying big bucks" for naming rights. 
     Compaq Computer Corp. has already had "preliminary
     discussions" with the city and Continental Airlines, Enron
     Corp. and others "foresee possibly bidding" for naming
     rights (Williams & Silverman, HOUSTON CHRONICLE, 4/10).

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