Facing a "tight" legislative deadline, the Red Sox are
expected today to publicly unveil a broad outline of how
they hope to pay for their proposed" $600M project to build
a new Fenway Park, according to Meg Vaillancourt of the
BOSTON GLOBE. Red Sox CEO John Harrington "appears willing
to accept some" financing measures "he had previously shied
away from," including selling naming rights, PSLs and
"possibly partnering with key Fenway landowners to reduce
the cost of land takings needed" for the project.
Harrington "is expected to incorporate" some financial
proposals offered by Boston Mayor Thomas Menino, such as
increasing private investment in the project and attracting
an MLB contribution. The team "is also keeping a sharp eye
on demands by state leaders for a payback" as they negotiate
with the mayor (BOSTON GLOBE, 5/19). Also in Boston, Cosmo
Macero cites sources as saying that the deal's parameters
call for "nearly" $300M in public funding, "while leaving
the Sox franchise with an equally staggering $350 million
load to carry on its own" (BOSTON HERALD, 5/19).
