SBD/29/Facilities Venues

ASCENT SAYS PEPSI CENTER DEAL MUST HAPPEN TODAY

          The city of Denver and Ascent Entertainment "are just
     'inches away' from finalizing a deal" on the proposed Pepsi
     Center, according to Kevin Flynn of the ROCKY MOUNTAIN NEWS.
     Flynn: "Ascent wants something in writing today saying the
     deal is imminent, and it appears the firm will get it"
     (ROCKY MOUNTAIN NEWS, 10/29).  Also in Denver, Stephen
     Keating writes that, although "time is running out," both
     sides said that a final pact "is close at hand."  Still
     being discussed is how much control the city will have over
     the arena and the teams "if something goes wrong" over the
     25-year life of the lease.  Although Ascent Chair Charlie
     Lyons is "measured and careful" on the record, Keating
     writes that "[p]rivately, he is agitated."  Lyons claims
     that if the city does not respond positively by 5:00pm
     today, the lack of a deal "will force" Ascent to "make good
     on" a $140M loan from NationsBank.  Keating: "Ascent said
     that if it cannot tell NationsBank by Friday that the Pepsi
     Center is a done deal, the company will be forced to
     refinance or 'sell assets'" (DENVER POST, 10/29).  

Return to top

Related Topics:

Bank of America, Facilities, PepsiCo

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug