Cal Signs Field Naming-Rights Deal With Kabam CU Approves $143M Facilities Upgrade Plan Spotlight TMS, Ticketmaster Reach Deal Facility Notes Vikings Break Ground On New Stadium Rogers Inks Naming Rights For Edmonton Arena Tropicana Field Upgrade Plans Unveiled Tennis Center Renovations To Start In February Facility Notes Critics Assail Markham Arena Plan
OH HO, IT'S MAGIC, WHO'S EYEING A NEW ARENA
Published November 10, 1997
Magic President & CEO Bob Vander Weide "left little doubt" on Friday that the team "expects a replacement" for the Orlando Arena, "possibly within seven years," according to Dan Tracy of the ORLANDO SENTINEL. The team's current lease at the arena, under which they pay the city $446,500 a year, ends after next season. While Vander Weide said that the team "intends to honor" the agreement and "exercise an additional five-year rental option," he "would not commit" the Magic to the eight-year old facility "beyond" the 2004 season. While Vander Wiede "would not discuss who might pay," for a new arena, Tracy wrote that Orlando and Orange County officials have been "adamant in saying they will not spend tax dollars" on such a project. The arena still has a debt of "about" $40M, which will not be paid off fully until 2019. The team released a study showing that renovation "would not bring in extra cash" (ORLANDO SENTINEL, 11/8).