BIG SPENDERS: THE SPORTSBUSINESS JOURNAL's Daniel
Kaplan reports that the Patriots will "spend more money to
build a new stadium than any franchise in U.S. sports
history." An NFL source said that two years ago, the team
raised $312M in 25-year bonds, while the NFL contributed
around $150M from its stadium construction fund. The source
also said that "after factoring out existing debt and other
items included in the bond sale, the team is raising" around
$430M, $90M more than the anticipated construction cost.
The surplus will pay fees, interest and other "construction-
related" costs (SPORTSBUSINESS JOURNAL, 12/18 issue).
MEADOWLANDS MONEY: NJ Sports & Exposition Authority
(NJSEA) figures show that the state provided $57M in
subsidies to the Meadowlands Sports Complex and Monmouth
Park in '00, up 2.5% from the $55.6M the state provided in
'99. Continental Airlines Arena lost $3.34M last year, and
"expects to lose" $4.33M next year. But Giants Stadium had
its "second-best year in 2000, earning an operating profit"
of $14.6M, compared to $13.3M in '99 (AP, 12/17).
ASTROS NEW SPRING LEASE: In Houston, Joseph Duarte
writes that the Astros have reached a new lease agreement
with Osceola County, FL to continue its spring training at
Osceola County Stadium in Kissimmee through 2016, "spurning
overtures to relocate" to AZ. The new agreement includes
$18.4M in stadium improvements, $7.5M of which must be
approved by Osceola County (HOUSTON CHRONICLE, 12/19). In
Orlando, April Hunt notes that the county expects to make at
least $100,000 annually by selling the naming rights to the
stadium complex (ORLANDO SENTINEL, 12/19).
