SBD/Issue 141/Facilities & VenuesPrint All
Bennett Says “Little Hope” That Sonics Will Stay
In Seattle Region After Legislature’s Decision
DOUBLE TALK: Several Legislature members, including Kessler, indicated that while there “may not be support for a basketball arena, ... there could be for a ‘multi-purpose facility’ with a basketball team as the key tenant.” But in Seattle, David Postman wrote arena supporters “already tried hard to present the project as something other than a basketball arena. The spreadsheet distributed recently outlining the deal is headlined, ‘Proposed public financing for a world-class multi-purpose arena in King County’” (SEATTLETIMES.com, 4/16).
HOME ON THE RANGE? In Seattle, McGann, Galloway & Harris note the Sonics are contractually obligated to play in KeyArena until 2010, and if the ownership group wanted to “end their lease early, they’d have to negotiate a buyout with the city.” Also, Bennett would have to petition the NBA before March 1, 2008, in order to relocate the team in time for the ’08-09 season (SEATTLE POST-INTELLIGENCER, 4/17). In Oklahoma City, Berry Tramel writes the Hornets were a “raging success” in their two-season stint in the city largely due to the efforts of the business community and government, and Bennett “was the main reason why.” Tramel: “The NBA owes Bennett big time and knows it. ... It would be very difficult for men who grew up in Oklahoma City to put an NBA franchise somewhere else” (DAILY OKLAHOMAN, 4/17).
Proposal Calls For Teams Like Magic
To Receive One-Time Payment
Baltimore City Council Debating Bill To Relax
Ticket Reselling Laws Around Camden Yards
Global Spectrum Senior VP Frank Russo said that his company “did not submit a bid for SMG to Morgan Stanley, the investment bank handling SMG’s sale.” AEG President & CEO Tim Leiweke also said that his company “was not interested in acquiring SMG and its estimated 180 facility contracts” (Don Muret, SPORTSBUSINESS JOURNAL, 4/16 issue)....San Jose Chief Development Officer Paul Krutko issued a report confirming A’s Owner Lew Wolff’s proposal to finance a new soccer and football stadium on the San Jose State Univ. campus “would not require any public investment” and would be built “debt-free.” Funds for the stadium would come from a real estate deal proposed by Wolff (SAN JOSE MERCURY NEWS, 4/17)....BC Place Stadium will host an exhibition match October 3 between the USL first division Vancouver Whitecaps and the MLS Galaxy (ESPNSOCCERNET.com, 4/17).