SBD/Issue 165/Facilities & Venues

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  • Jets Near Lease Extension If West Side Stadium Falls Through

    Jets Near Giants Stadium Lease Renewal
    The Jets are “closing in on a 10-year extension to the team’s lease at Giants Stadium,” which would include “the right to break the agreement if the franchise can build a stadium elsewhere,” according New Jersey state officials cited by Matthew Futterman of the Newark STAR-LEDGER. The new lease would reduce the Jets’ rent to 10% of gross ticket sales from 15%, while “providing the team with a serious backup plan if its proposed West Side stadium project falls through.” It also gives the team “major leverage in upcoming talks with the Giants, who need the Jets’ approval to build a $750[M] stadium” next to the existing one, and raises the “possibility that the team could ask to take over the existing Giants Stadium in return for giving the Giants permission to build their new facility.” Futterman notes the extension would “prohibit the Giants from tearing down” the existing Giants Stadium “without reaching an accommodation with the Jets’ owners” (Newark STAR-LEDGER, 5/19). In N.Y., Tom Topousis reports the pending deal “would slash the team’s $7[M] rent for its current Meadowlands location by one-third.” A source said, “The Jets still want to be in New York and will work to be in New York, but this gives them a very viable plan B and it’s not in Queens” (N.Y. POST, 5/19).

    WAITING GAME: Also in N.Y., Colangelo & Mahoney report New York Gov. George Pataki “set next Wednesday as the new date” for the Public Authorities Control Board to vote on $300M in state funding for the West Side stadium. But sources said that the vote “is likely to be delayed once again” because New York state Assembly Speaker Sheldon Silver “is likely to exercise his one-time option of tabling the agenda item, ... just as Senate Majority Leader Joseph Bruno did this week” (N.Y. DAILY NEWS, 5/19). Pataki: “I just want to do what is right for the people of New York, that is to build the stadium, to get it approved, and I’m going to continue to push for it” (N.Y. TIMES, 5/19).

    Print | Tags: Facilities, Football, New York Giants, New York Jets, NJSEA
  • WMG Seeking Sponsors For New Mixed-Use Development In London

    London-based developer Quintain has selected Wasserman Media Group’s WMG Marketing as the exclusive commercial marketing agency for its new mixed-use Wembley Complex. The 6.2 million-square-foot complex includes Wembley Arena, a 150,000-square-foot shopping center, a 140,000-square-foot sports retail complex, 4,224 apartments and a multi-screen cinema, as well as restaurants, cafes, bars and night clubs. The area surrounds, but does not include, the new 90,000-seat Wembley Stadium (Wasserman Media Group). MADISON & VINE’s Marc Graser noted that in addition to a naming-rights partner, Quintain and WMG Marketing “want to sign up to 11 exclusive partners overall,” and are seeking partners to be “integrated into the early design and construction phases of the project.” That may include brands that can “provide the site’s overall technology infrastructure, or companies providing the complex’s apartments with electronics hardware.” WMG Marketing President Jeff Knapple: “We’re looking for companies that want to be involved in the building of the project.” Graser noted that sponsorship terms will be staggered, with sponsors of larger venues “signing on for a minimum of 15 years, while other partners sponsor the complex from five-year increments and up.” Sources said that the rights deals are “expected to generate $40[M] a year and earn [$800M-1B] during its lifetime” (MADISON & VINE, 5/16).

    Wembley Stadium Naming Rights Will Not Be For Sale Under WMG Marketing Pact

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  • Facility Notes

    Louisiana state Sen. David Cain commissioned a statewide telephone poll of 350 voters from April 22-25 that found “nearly three out of every four Louisiana voters oppose giving tax dollars to keep” the Saints in New Orleans. When asked, “Do you favor or oppose the use of tax dollars to keep the [Saints] in Louisiana,” 62% of respondents were strongly opposed, 7% were somewhat opposed, 8% were undecided, 9% were somewhat in favor and 14% were strongly in favor. The poll was conducted by Market Research Insight and has a margin of error of +/- five percentage points (AP, 5/18).

    Tell-Tall Signs: Cowboys, Rangers
    Seeking Approval For 100-Foot Marquee
    EVERYWHERE IS SIGNS: In Ft. Worth, Sally Claunch reports the Cowboys and Rangers have asked the Arlington Planning & Zoning Commission to “approve an ordinance to allow each team to have some signs that could be as tall as 100 feet around” Ameriquest Field and the new Cowboys stadium. Those signs — no more than six at each facility — “could identify the name of the respective ballparks and would serve as a marquee for sponsors.” The ordinance would place “few limits on the maximum number and spacing for many of the other colossal signs that could be at the stadium entrances, on the stadium rooftops, or on poles used to market the stadium and the teams.” The Cowboys’ stadium is slated to open in ’09 (FT. WORTH STAR-TELEGRAM, 5/19).

    FIRE ON THE MOUNTAIN: MLS Fire President John Guppy said that half of the 42 luxury suites in the team’s new soccer stadium in Bridgeview (IL) have been sold. The team expects “both the suite sales and corporate sponsorship discussions to pick up as soon as the naming partner is announced.” The stadium is scheduled to open June 1, 2006 (Nathaniel Whalen, DAILY SOUTHTOWN, 5/18).

    Print | Tags: AEG, Chicago Fire, Dallas Cowboys, Facilities, Football, New Orleans Saints, Soccer, Texas Rangers
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