REPORT HAS STRUGGLING PSINET PAYING $17M OF RAVENS DEAL

          VA-based PSINet, which reported a large third quarter
     loss last week and retained Goldman, Sachs to help it
     explore ways to cut costs, is "believed to have paid about"
     $17M so far to the Ravens as part of the company's 20-year
     naming rights/sponsorship agreement at the team's stadium
     valued at $105-110M, according to Thomas Heath of the
     WASHINGTON POST. Sources said PSINet is "believed to have
     made a down payment and two annual payments, with the next
     payment of about" $2.5M due next summer.  If PSINet is
     "bought, the naming rights can be transferred to a new owner
     at no extra cost except what the company must pay to change
     any logos or signs around the stadium."  Heath: "PSINet
     could also sell the naming rights to another company to
     reduce its liability.  The Ravens may also agree to release
     PSINet from future payments or resell the naming rights to
     another sponsor" (WASHINGTON POST, 11/20).