SBD/22/Facilities Venues

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  • ALEXANDER SAYS HE'LL DROP SUIT, EXPECTS NEW ARENA

              Rockets Owner Leslie Alexander said Thursday he "will
         drop his lawsuit to get out of Compaq Center before his
         lease expires in 2003 because he is satisfied officials will
         have a new arena by then," according to John Williams of the
         HOUSTON CHRONICLE.  Alexander has spent "about three years"
         trying to get a new arena in Houston, arguing that the team
         can't stay competitive without luxury suites, club seats and
         "other revenue boosters."  Harris County-Houston Sports
         Authority member Michael Stevens said that the Authority had
         "started preliminary negotiations with Alexander."  In other
         news, Alexander said he will "renew efforts" to acquire 25%
         of the Vikings with a new investor group after Tom Clancy
         withdrew his bid on Wednesday (HOUSTON CHRONICLE, 5/22).
    
    

    Print | Tags: Facilities, hp, Houston Rockets, Minnesota Vikings
  • COUNTY FINALIZES BOND SALE FOR NEW BENGALS STADIUM

              Hamilton County officials sold $273M in bonds on
         Tuesday, the "final financing instruments for the Bengals'
         new stadium," according to Lucy May of the CINCINNATI
         ENQUIRER.  The county received an "average" 5.16% interest
         rate on the bonds.  Earlier this year, the county issued
         $71.6M in bonds at a 4.87% interest rate, and in all, the
         county has sold $344.6M in bonds to pay for the stadium. 
         May wrote that is "considerably more" than the original
         estimate of $322.7M, but officials cite the rising land cost
         as one reason for the increase.  The bonds will be paid off
         by a half-cent county sales tax increase (CINCINNATI
         ENQUIRER, 5/20).  May reported yesterday that "even with the
         favorable interest rates," documents show that interest
         payments will total more than $353M over the 30-year debt. 
         Combined interest for the $273M in bonds sold Tuesday and
         the $71.6M bond issue in January "brings the total cost of
         the project," including the stadium complex plus financing
         costs, to more than $753M.  Hamilton County Commissioner Bob
         Bedinghaus "stressed" that the cost of the $400.3M football
         complex hasn't changed and said that county officials "plan
         to pay off the debt early" (CINCINNATI ENQUIRER, 5/21).
    
    

    Print | Tags: Cincinnati Bengals, Facilities
  • FACILITY NOTES

              Boston city officials "downplayed" a report on "Inside
         Edition" about food safety violations at Fenway Park. 
         Inspectional Services Department's John Eade: "We're in the
         (television rating) sweeps.  That's their story.  I don't
         want to respond to that."  Aramark President of Stadiums and
         Arenas John Pistone said the company will offer "additional
         training" to employees (BOSTON GLOBE, 5/22)....Dallas
         officials "are putting final touches" on a plan to lease the
         Cotton Bowl to "a private group of business leaders that
         intends to dome" the stadium (DALLAS MORNING NEWS, 5/22).
         ...Baltimore Mayor Kurt Schmoke is asking City Council to
         approve a $450,000 study "to examine potential sites and the
         economic benefits" of building a newer, larger Baltimore
         Arena (Baltimore SUN, 5/22)....In Denver, the stadium board
         "recommended tearing down McNichols Sports Arena to make way
         for a new Broncos stadium."  Final decision is up to the
         Denver City Council (ROCKY MOUNTAIN NEWS, 5/22)....With no
         roof at Olympic Stadium, the temperature at the Expos' game
         yesterday "was around" 15 degrees with a "brisk wind."  The
         announced crowd was 7,601, but there were "fewer than 1,000
         on hand" for the last two innings (GAZETTE, 5/22). 
    
    

    Print | Tags: Aramark, Denver Broncos, Facilities
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