Last week's deal between the city of Denver and Ascent
Entertainment for the new Pepsi Center were examined
extensively in Sunday's DENVER POST. The deal was examined
by the POST's Alan Katz, who wrote, "Did anyone get
victimized? It depends on who's doing the analysis."
Denver City Councilman Ted Hackworth says that the city
"took a pasting by giving up a $20 million asset -- the
McNichols Sports Arena lease -- without getting any money in
return." Hackworth "also objects to Ascent's gaining
control over McNichols Arena, an asset he calls 'a gold mine
for the city.'" The POST's Katz wrote that "the agreement
spells trouble" for McNichols, "a structure that's paid for
and in decent repair." Denver Mayor Wellington Webb "has
hinted that demolishing" McNichols "is the likeliest
outcome" (DENVER POST, 8/17). Ascent Arena Project
President Tim Romani was interviewed by the POST's Stephen
Keating. Romani: "The Pepsi Center will be, dollar for
dollar, the best arena in the country." Romani will unveil
a building model this month before a groundbreaking in
October. Keating wrote that if "all goes well," the $165M
arena will open in the fall of '99 (DENVER POST, 8/17).
