NFL Giants, Jets Settle American Dream Dispute Sun Life Upgrade Plan Greeted By Mixed Reactions Canucks Terminate Aramark's Contract Braves Weighing Spring Training Options Ross Wants To Pay For Stadium Upgrade Lambeau Field Expansion Cost Rises $25M Yum! Center Looks For More Sponsorships VCU To Build $25M Hoops Practice Gym Facility Notes Oakland Teams Still Searching For New Venues
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Published March 18, 1998
The Tigers officially announced a deal with Tokyo-based Sumitomo Bank to finance their new ballpark. Sumitomo will fully underwrite the $145M transaction (Tigers). The Tigers "pledged control of" the new stadium and the projected revenues it will generate as collateral to secure the loan from Sumitomo (DETROIT FREE PRESS, 3/18)....MA House Speaker Thomas Finneran yesterday said that he "opposed a Senate plan to help" the Patriots build a new stadium in Foxboro "unless the state received part ownership of the stadium, related commercial development, or the team itself." Finneran: "[T]here's not a great deal of support or sentiment in the House for the gift of $20 million in exchange for a piece of land that we're not then able to use for '99 years" (BOSTON GLOBE, 3/18).