A's To Finance New Fremont Ballpark First, Followed By Housing

Wolff Hopes A's, Earthquakes Stadiums Will Be Completed By 2012

The "dour housing and credit markets apparently won't stop" the A's from pursuing construction of Cisco Field in Fremont, California, according to Matthew Artz of the FREMONT ARGUS. A's Owner Lew Wolff said that the residential component of the team's ballpark village plan "might have to be delayed, but the A's have come up with a method for financing the ballpark first and phasing in the housing later." Wolff: "We have our own plans for moving ahead." Wolff "declined to go into detail about how the project would be financed" and said that he "still hopes the ballpark can be completed by 2012." However, Wolff added, "In this world, I'm not calling dates anymore" (FREMONT ARGUS, 11/16).

CHANGING COURSE: In San Jose, Theriault & Almond write the nation's "economic free-fall could be undercutting plans for three multimillion-dollar South Bay sports stadiums -- plans, in some cases, that have been years in the making." So far, the 49ers, A's and MLS Earthquakes, "all of which hope to open new homes worth a combined $1.5[B] by 2012, insist they are forging ahead." However, Wolff, who also owns the Earthquakes, said that he is "no longer planning to immediately fund his projects -- in San Jose and Fremont, respectively -- with proceeds from planned residential developments." Wolff will "tap other sources of cash, including private investors, parking fees and naming rights." Wolff: "The best building I've done has been in times when I shouldn't be building." Wolff for the Earthquakes is "now proposing a small, family-oriented venue without luxury boxes or other pricey additions common to new sports facilities." The "expected price tag for the facility is now less than" the $100M that had earlier been projected. The "same real estate challenges are dogging Wolff's plans for a 32,000-seat A's stadium" in Fremont. The expected price for the A's facility is $400-500M, "excluding land, and Wolff had hoped to pay for it by selling hundreds of apartments and townhouses in a Santana Row-like 'village' nearby." Instead, Wolff said that he will "use money from naming rights" from Cisco Systems. Wolff will also use money from parking fees and concessions to "recoup his construction costs." 

Santa Clara Officials "Cautious" When Discussing New 49ers Stadium Project

DOWN BY THE BAY: The MERCURY NEWS' Theriault & Almond add Santa Clara officials, where the 49ers have spent months in financing talks for a new stadium, "have begun using the word 'cautious' when discussing the project." Two of the city's "main sources for funding its proposed share -- redevelopment money and revenue from future development near the site -- now look questionable." The 49ers' stadium plan "relies on private money from team ownership and a hoped-for cash infusion" from the NFL, as well as a "still-undetermined subsidy from Santa Clara." The size of that subsidy has been among the "main sticking points in talks between the team and city -- talks not scheduled to end until February, months after initially planned." The city has "held fast to an offer of $136[M], tens of millions lower than the 49ers have requested," and amid the current economy, "even that offer might prove too rich for the city's blood." Santa Clara Deputy City Manager Carol McCarthy confirmed that the city is "re-examining its financial picture" (SAN JOSE MERCURY NEWS, 11/18).