Arizona State To Build Student-Athlete Center Detroit Approves $450M For Arena Bonds Sacramento Republic FC Purchases Land For Stadium Braves' Naming-Rights Deal Worth $10M Annually Sources: NYC FC Eyes Aqueduct Area Mickelson To Design Calgary Golf Course Facility Notes SunTrust Buys Braves Ballpark Naming Rights Red Wings To Unveil Latest Drawings Of New Arena NFL Supports Commission Of HOF Village
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Published February 5, 1998
The IN House passed legislation Tuesday that would "give the public or a group of private investors a chance to buy" professional sports teams should they try to leave after receiving public subsidies. Both the Colts and Pacers said they will continue to oppose the bill while the legislation now goes to the State Senate. IN Gov. Frank O'Bannon has yet to take a position on the legislation (STAR-NEWS, 2/5)....A bill introduced in the CO Senate asks taxpayers to pay 75% of "whatever" the cost for the Broncos stadium ends up to be, "eliminating the team's obligation to pay for any cost overruns." It also removes the $180M cap on the taxpayers contribution approved two years ago. The bill would also call for a May vote (ROCKY MOUNTAIN NEWS, 2/4)....A first-round game of soccer's Gold Cup between Brazil and Jamaica drew 43,745 at the Orange Bowl (MIAMI HERALD, 2/4)....While speculation has the cost of a new Raleigh arena running $3M over budget and "several months" behind schedule, Hurricanes Owner Peter Karmanos said that his team would contribute no more than the $20M currently earmarked in the deal (NEWS & OBSERVER, 2/5).