Facility Notes

Interpublic agreed to pay "about $49[M] to the British Racing Drivers Club in order to opt out of a long-term" deal. Interpublic can terminate its lease at the Silverstone racetrack and "related agreements no later than the end of this year" (N.Y. TIMES, 7/7).

DRYING OFF: USTA CEO of Professional Tennis Arlen Kantarian said that to deal with rain at the U.S. Open, tarps "may be used on the courts this year, along with a new machine that is used to dry airport runways." Kantarian called it, "Our version of an ice hockey Zamboni." U.S. Open execs are also working with an MIT professor "to install microwave technology under the court by 2005 to help dry it from within" (N.Y. TIMES, 7/6).

NOTES: BLB Investors on Monday said that the company is rescinding "its offer for casino and racetrack operator Wembley PLC, due to concerns about tax changes" in Rhode Island, where Wembley operates the Lincoln Park greyhound track (WALL STREET JOURNAL, 7/5)....Renovations to the Orange Bowl, which include cutting capacity from 74,224 to 62,000 and adding more chairback seats, "likely won't begin until after" the '05 NCAA football season. Univ. of Miami AD Paul Dee said that the school's football games will not "need to move while the Marlins' proposed adjacent stadium is being constructed" (MIAMI HERALD, 7/4).