SBD/17/Franchises

COUNCIL OVERWHELMINGLY APPROVES OILERS' RENT REDUCTION

          Nashville's Metro Council approved an amendment to the
     Oilers' stadium agreement that reduces the team's rent by
     $19.1M over the 30-year life of the lease, according to Rob
     Moritz of the NASHVILLE BANNER.  Council members said their
     decision to support the change "was swayed heavily" by the
     Oilers' announcement Monday to locate their $17M practice
     facility locally in Bellevue and not a neighboring county. 
     The rent change "was needed" because the team had exercised
     a contract option not to have the practice facility built
     next to the Nashville stadium.  Mayor Phil Bredesen and the
     Oilers negotiated the rent reduction from $1M a year to
     $362,319 (NASHVILLE BANNER, 4/17).

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Edmonton Oilers, Franchises

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