SBD/11/Franchises

REPORT: CRACKS "ALREADY SURFACING" IN WARRIORS ARENA DEAL

          Cracks "are already surfacing" in the new $140M
     Warriors arena deal, and "once again, it looks like
     taxpayers will get stuck," according to Matier & Ross of the
     S.F. CHRONICLE.  The Warriors, who have been negotiating
     with Oakland and Alameda County to take over the management
     of the renovated Oakland Coliseum Arena, "have asked that
     the deal be put on ice for at least a year" due to "fear of
     a possible NBA players strike next season."  East Bay
     officials "are scrambling to find an outside firm to manage
     both the arena" and the Oakland Coliseum stadium, and two
     names "being mentioned for the job" are SMG and Ogden Ent.
     Meanwhile, Joint Powers Authority officials overseeing the
     arena "say they don't know if it's operating in the black,
     and they've brought in an outside auditor to look at the
     books."  Matier & Ross also report that the Warriors "are
     only guaranteeing to pick up" about $7.4M of the $11.4M in
     annual costs from the new arena.  The team says it "hopes to
     cover" the remaining $4M from a 5% ticket surcharge and from
     the sale of naming rights (S.F. CHRONICLE, 5/11).

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