After Philadelphia Mayor Ed Rendell's announcement
Monday that he would not offer stadium legislation for the
Eagles and Phillies before he left office, the Eagles asked
the City Council to consider their stadium proposal this
year, according to a front-page report by Benson & Hepp of
the PHILADELPHIA INQUIRER. In "pressing" for a hearing,
Eagles Exec VP Joe Banner said the team was prepared to put
up $302M of what could be a $450M deal that included a new
stadium and training center. That would "far exceed the
team's initial promise to provide a third of the costs, and
Banner said that "it far exceeded what any other NFL team
had invested in a stadium." But City Council President Anna
Verna said such a hearing was unlikely: "We simply cannot do
this blindsided." She said Council members needed more time
to consider such a project. But Banner said that should the
deal be delayed, and interest rates and inflation increase,
the added costs could "kill" the package (PHILADELPHIA
INQUIRER, 11/17). In Philadelphia, Edward Moran writes that
Verna "not only was unmoved by the Eagles' presentation, but
felt it was 'absolutely unconscionable'" to ask for $800M
for two new stadiums (PHILADELPHIA DAILY NEWS, 11/17).
DETAILS: Banner and team Owner Jeffrey Lurie
"acknowledged" that they "might use a variation" of PSLs to
help "contribute" $302M for a new stadium and training
center. The Eagles' PSLs would be called "charter seat
agreements," and Banner said that the "proposed lease" with
the city "would allow the team to sell the rights to no
more" than 29,000 of the 66,000 seats. The proposed stadium
was designed L.A.-based NBBJ. In Philadelphia, Phil
Sheridan reports that since it "appears there is no chance
that the city portion" of the facility financing will be
approved by the end of the year, there is "little chance of
the Eagles meeting" a 2002 "target date" for a new stadium.
But he adds that Banner and Lurie were "extremely careful
... not to appear to be threatening to move" without a new
stadium deal (PHILADELPHIA INQUIRER, 11/17).
REAX: A PHILADELPHIA DAILY NEWS editorial states that
the Eagles "uncorked a Hail Mary pass" yesterday and "four
weeks still is not enough time for City Council to consider
[the proposal] properly" (PHILADELPHIA DAILY NEWS, 11/17).
Also in Philadelphia, Bill Conlin: "There is not going to be
a better deal for the taxpayers" (DAILY NEWS, 11/17). The
PHILADELPHIA INQUIRER gives Banner and Lurie "credit. They
are more sinned against than sinning on this issue. Yet
they diplomatically refused to blame an overpromising mayor
or the dawdling Phillies" (PHILA. INQUIRER, 11/17).
DON'T FORGET THE PHILLIES: Plans for a potential
Phillies ballpark showed a retro-style park similar to
Camden Yards, with 43,000-45,000 seats. Phillies President
David Montgomery said that the "total price tag" would be
about $370M, including the "demolition" of Veterans Stadium.
Hepp adds that the team was "prepared to pick up about"
$150M of the cost (PHILADELPHIA INQUIRER, 11/17).
