SBD/8/Facilities Venues

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  • FACILITY NOTES

              With the Raleigh arena project $20M over budget, Laurie
         Willis of the NEWS & OBSERVER reported that the Hurricanes
         "have proposed giving more money for the arena, but have not
         divulged how much they are offering" (Raleigh NEWS &
         OBSERVER, 6/6)....In Dallas, Holly Cain reports that Bruton
         Smith's $3M worth of renovations at his Texas Motor Speedway
         may have "put" the track "back in contention for a highly
         coveted" second Winston Cup race in '99 (DALLAS MORNING
         NEWS, 6/8).  But in Charlotte, Jim Utter wrote that the
         Winston Cup circuit next year is "likely to include" a 34th
         race at the Homestead Motorsports complex in FL, while
         another race may be added for the Kansas City, KS, facility
         in 2000 (CHARLOTTE OBSERVER, 6/7).
    
    

    Print | Tags: Carolina Hurricanes, Facilities, Gale Force Holdings, R J Reynolds, Speedway Motorsports Inc.
  • IRVINE OFFICIALS SKEPTICAL ABOUT POTENTIAL NFL GROUP'S PLANS

              Irvine, CA, leaders "expressed wariness" Friday at
         granting exclusive development rights to an investment group
         seeking to build a pro football stadium in the city, and
         said that "it could be months before they make a final
         decision," according to Shelby Grad of the L.A. TIMES.  The
         Southern California Sports Group (SCSG), comprised of L.A.
         investors including former USC RB Anthony Davis, has said
         that it "will raise" $500M for a stadium if Irvine "will
         give it sole authority to develop the project and help
         recruit an NFL team."  Irvine Mayor Christina Shea, on the
         SCSG's proposal: "They want exclusivity, and I don't think
         the council is ready to do that."  SCSG execs could not be
         reached for comment, and Grad wrote that it is "unclear"
         whether the group would proceed with a stadium plan without
         exclusive development rights (L.A. TIMES, 6/6).
    
    

    Print | Tags: Facilities, NFL
  • IS STEINBRENNER'S THREAT BLUSTER, OR IS IT TIME TO DEAL?

              New York City Council Speaker Peter Vallone "refused to
         drop his call" on Friday for a referendum on any new Yankee
         stadium, one day after team Owner George Steinbrenner said
         Vallone's actions could led him to relocate his team out of
         New York, according to Michael Finnegan of the N.Y. DAILY
         NEWS.  Vallone said he was "definitely proceeding with" the
         stadium referendum, adding that city voters "must be allowed
         to decide whether taxpayer money is spent on the nation's
         most expensive ballpark at a time when many public schools
         are in disrepair."  NYC Mayor Rudy Giuliani "added to the
         extraordinary pressure" on Vallone, "echoing" Steinbrenner's
         statements, and saying that the city "must be able to offer
         Steinbrenner a Manhattan ballpark" if the team decides to
         leave Yankee Stadium (N.Y. DAILY NEWS, 6/8).  
              NO CHANCE TO WIN VOTE? In N.Y., Clifford Levy wrote an
         analysis of Giuliani's opposition to a referendum under the
         header, "Sensing A Defeat."  He wrote that Giuliani is
         looking to avoid a vote as, "stadium naysayers here, as in
         similar votes elsewhere, would seem to have the upper hand"
         (N.Y. TIMES, 6/6).  In N.Y., Mike Lupica wrote that
         Steinbrenner uses "vague threats" in talks of a new stadium,
         but "never comes out and tells us exactly what he wants" 
         (N.Y. DAILY NEWS, 6/7).  Also in N.Y., Dave Anderson wrote,
         "[E]verybody should know that whenever [Steinbrenner] talks
         about taking his team anywhere, he's bluffing" (N.Y. TIMES,
         6/7).  But a N.Y. POST editorial titled "Steinbrenner Is
         Serious," stated that, "Whatever else Steinbrenner may be,
         he isn't a loose cannon. ... When he says Jersey, he means
         Jersey" (N.Y. POST, 6/6).  A N.Y. TIMES editorial stated
         that while the "referendum Mr. Vallone desires is unlikely
         to enhance public discourse" of a facility, it is his "right
         to raise the issue of public financing."  The paper
         concluded: "The universe of private financing options is a
         lot wider than Mr. Steinbrenner and the other lords of
         baseball let on" (N.Y. TIMES, 6/6). 
    
    

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  • MOAG SAYS HE HAS NO CONFLICT OF INTEREST WITH NEW POSITION

              MD Stadium Authority Chair John Moag, who was named to
         head the sports investment group at Legg Mason Wood Walker
         Inc., said that he "will take the steps necessary to avoid
         conflicts of interest," according to Jon Morgan of the
         Baltimore SUN.  Moag said that his investment group "won't
         be looking for work" in MD and added, "The kind of stuff I'm
         going to be doing here is out of state."  However, Morgan
         wrote that others "aren't so sure," including MD Common
         Cause Exec Dir Kathleen Skullney, who called Moag's new
         position "very problematic," and said Moag "has a
         responsibility to the state not to wear those two hats." 
         Moag said that he "will recuse himself from consideration of
         business that might overlap with Legg Mason's work," adding
         that Legg Mason "won't do business" with the Stadium
         Authority or either Baltimore team (Baltimore SUN, 6/7).
    
    

    Print | Tags: Facilities, Legg Mason
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