SBD/31/Facilities Venues

PEPSI CENTER TO BE THE CHOICE OF DENVER'S GENERATIONEXT

          Ascent Ent. and Denver officials "compromised" on a
     final deal for the $170M Pepsi Center yesterday, according to
     Ann Imse of the ROCKY MOUNTAIN NEWS.  City negotiators "gave
     up their demand" for veto power over a new owner if Ascent
     sells the Avalanche and Nuggets, but the city "won written
     assurances" that it won't be left with millions of dollars in
     expenses to run the arena if Ascent "goes bankrupt or
     otherwise defaults."  Ascent "will pay for the arena and keep
     the revenue."  Imse adds that the city is "giving up millions
     of dollars in tax revenues" and "releasing" the Nuggets from
     a long-term lease at McNichols Arena "in exchange for a
     guarantee that both teams will remain" in Denver for 25 years
     (ROCKY MOUNTAIN NEWS, 10/31).  The city will also give Ascent
     a "bundle of lucrative concessions," including $4.5M for
     infrastructure and $2.25M in sales-tax rebates during the
     two-year construction period (Alan Snel, DENVER POST, 10/31).

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