UH OH, IT'S THE MAGIC LOOKING TO RENOVATE TD WATERHOUSE

          The Magic "have agreed to study the possibility of
     remodeling the TD Waterhouse Centre instead of pushing for
     tax dollars to build a new arena," according to Dan Tracy of
     the ORLANDO SENTINEL, who reports that the team is "bowing
     to political pressure" with the move.  City officials "urged
     team executives" during meetings within the past week to
     "look strongly at renovation," which would be "easier to
     sell to taxpayers than the idea" that the $110M arena,
     opened in '89, "is so outdated, it needs replacing."  Magic
     execs state the team is losing money and must generate more
     revenue from the arena to break even.  Team VP/Business
     Development Cari Coats said that the Magic "must come up
     with at least an extra $8 million annually to erase or ease
     operating losses."  Coats said the team intends to hire two
     separate architects to study renovation.  The studies should
     be completed within four months (ORLANDO SENTINEL, 10/20).