The private financing of MLB ballparks is examined by
Laura Jereski in the WALL STREET JOURNAL, who writes that
because of "voter fatigue ... baseball teams will have to
find private sources of money to finance their projects."
Jereski: "Key to such private placements is what bankers term
'contractually obligated income': streams of revenues that
will come in year after year, to assure the lenders that
interest on the debt can be paid" (WALL STREET JOURNAL,
12/17)....Raptors execs say that they are "more than
satisfied" with the sale of luxury suites for the Air Canada
Centre, which opens in '99. Of the 105 suites, 79 have been
sold to date, with the top accommodations going for roughly
C$150,000 each (TORONTO STAR, 12/17). Raptors Owner Allan
Slaight, on team's drop in attendance: "Long before our won-
lost record took such a bad turn, we had budgeted for lower
attendance in our third season at the Skydome than in our
first two. ... Of course, we're looking forward to a big jump
when the Air Canada Centre opens" (TORONTO SUN, 12/17).
