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PROPOSAL IN PA WOULD SELL "BITS AND PIECES" OF STADIUM
Published March 9, 1998
Allegheny County and Pittsburgh officials are "studying the possibility of selling bits and pieces of new football and baseball stadiums as a way of increasing private investment in the projects," according to Belko & Barnes of the Pittsburgh POST-GAZETTE. Private investors who owned stadium assets like "seating, scoreboards, or other equipment," could "reap tax benefits" by writing off the "cost of depreciation" on such equipment. The plan was discussed last week and may be announced this week by city officials as they work on a $777M "so-called Plan B for financing the new stadiums" and expanding the city's convention center. In related news, Allegheny County's Department of Economic Development has hired IL-based stadium consultant Marc Ganis, who heads SportsCorp Ltd., for advice on the financing issues (POST-GAZETTE, 3/6). DEALMAKER: In San Jose, Renee Koury profiled Ganis, who "created" the Raiders seat-license plan. NFL VP/Communications Greg Aiello, on Ganis: "He's got ideas and expertise. He seems to get things done. He's a personable guy. And he's a wheeler-dealer" (S.J. MERCURY NEWS, 3/8).