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A FINE, FINE DAY FOR A REUNION: PROGRESS MADE IN DALLAS

          The city of Dallas will turn over control of Reunion
     Arena this fall to the Mavericks and Stars under a five-year
     deal both teams "are expected to sign this week," according
     to Robert Ingrassia of the DALLAS MORNING NEWS.  Arena Group
     President Brad Mayne said that the teams will "work to
     improve customer service" at Reunion for the final two to
     three seasons before moving into their new arena.  The city
     of Dallas will retain ownership of the arena.  Under terms
     of the deal, the teams will keep all cash from bookings,
     concessions and parking at Reunion, but must pay labor and
     maintenance costs.  Ingrassia reports that in recent years,
     the city has turned an annual operating profit at Reunion of
     "about" $750,000 (DALLAS MORNING NEWS, 7/29).  Documents for
     the financing of the new $230M arena were signed yesterday,
     but only the city's $125M share of the project is in the
     bank, because the $180M private placement by two banks which
     includes the Mavs' and Stars' $105M portion "isn't expected
     to be completed until next month."  The city has put its
     money into an escrow account.  The $180M promissory notes
     are being marketed to potential investors by Chase Manhattan
     and NationsBank (Mede Nix, FT. WORTH STAR-TELEGRAM, 7/29). 

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