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SBD/Issue 16/Facilities & VenuesPrint All
ISC To Purchase Pikes Peak, Move
Inventory To Other Tracks
CROWD CONTROL: PPIR President Rob Johnson said that under its management agreement, ISC “had the right to match any bids if PPIR put up the track for sale.” Johnson added that he “didn’t believe the lack of support was a factor,” noting that crowd totals “improved each year he was president of the facility.” In Denver, Stocker & Renck noted the Busch Series ITT Industries, Systems Division and Goulds Pumps Salute to the Troops 250 presented by Dodge on July 23 drew an estimated 40,000 fans, while the IRL Honda Indy 225 August 21 drew close to 30,000 (ROCKY MOUNTAIN NEWS, 10/1).
MIXED BAG: In Colorado Springs, David Ramsey in a front-page piece wrote under the header, “Lack Of Nextel Cup Race Forced Demise Of Pikes Peak Raceway.” Ramsey: “Colorado racing fans didn’t embrace second-tier drivers. The stands weren’t packed, and the big-time vibe that would have lifted PPIR never quite arrived” (Colorado Springs GAZETTE, 10/1). However, in Denver, Mike Chambers wrote the “demise of [PPIR] ... could turn into a blessing for Denver-area race fans who have yearned for a NASCAR Nextel Cup-hosted superspeedway.” ISC Dir of Communications David Talley said, “We’ve always felt that Denver is a great market for motorsports. While right now we focus on Seattle and [N.Y.], it would not be surprising to me that sometime in the near future we’d look at Denver again” (DENVER POST, 10/2).
INDUSTRY ANALYSIS: Standard & Poor’s analyst Gary McDaniel cut ISC’s rating to 3 stars (hold) from 5 stars (strong buy), writing, “We are increasingly concerned about the strategic focus of [ISC’s] management.” McDaniel called the purchase of PPIR “lackluster,” and added, “This comes on the heels of the company's agreement to acquire Action Performance, an unimpressive operator, in our view, in a business we see as risky and tangential.” S&P cut its target price on ISC to $57 from $68 (BUSINESSWEEK.com, 9/30).
Oilers Owners Planning For
New Arena In Near Future
LOCKOUT COSTLY: In Edmonton, Joanne Ireland wrote that the Oilers expect the “lost season will have cost” EIG C$9M. Corporate sales are down 40% an additional C$2M shortfall “largely because the lockout ended after the fall media buy.” While the team added 1,000 new season-ticket holders, as many as 400 former season-ticket holders elected not to renew their packages. Oilers President & CEO Patrick LaForge said, “We’ll recover eventually our commercial shortcomings, but the lockout has a hangover that goes with it. And in my mind, it’s got to be six months. At least” (EDMONTON JOURNAL, 10/2).
Bengals Cancel Pat-Down Plans Amid
Pressure From County Commissioners
SLOW GOING: In Atlanta, Steve Wyche writes there were “several thousand empty seats well into the first quarter,” at yesterday’s Vikings-Falcons game at the Georgia Dome, “in part because of long lines entering the stadium” due to pat-downs and random searches (ATLANTA CONSTITUTION, 10/3).
Officials at the Maryland Attorney General’s office “believe the Maryland Stadium Authority improperly paid more than $100,000” to the Baltimore-based law firm of William Murphy Jr., a “close ally of [Maryland Gov. Robert Ehrlich] to prepare a possible lawsuit against [MLB] to block the arrival” of the Nationals, according to Matthew Mosk of the WASHINGTON POST. The officials indicated that the “no-bid contract did not follow state procurement law, which requires state lawyers to sign off before any agency hires private attorneys.” Stadium Authority Exec Dir Alison Asti said that she hired Murphy’s firm “because the work was urgent and she was advised that the state’s lawyers were too busy.” Asti: “It is routine for us to use outside counsel.” Mosk noted that the suit was never filed because Orioles Owner Peter Angelos settled his dispute with MLB. Murphy later repped Angelos in his suit against Comcast over cable rights to Nationals games (WASHINGTON POST, 10/2).
BankAtlantic Reportedly Paying $2.7M
Annually For Arena Naming Rights