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SBD/Issue 85/Facilities & VenuesPrint All
Proposal To Build New Kings Arena,
Entertainment Complex Unveiled Thursday
OUT WITH THE OLD, IN WITH THE NEW: In Sacramento, Kelly Johnson noted the NBA and Cal Expo, which would be sold and "used for new development" under the land-swap proposal, have been "negotiating for three years over a proposal to develop a sports and entertainment complex there as part of a larger plan to revitalize the state fairgrounds." Kamilos Thursday said that his group will "provide details of its financing plan in mid February." Moag said that the project would "probably require two years for entitlements," with the goal to "break ground in October 2012 or early 2013, and open in 2014." Moag noted that "until a sports and entertainment complex would be designed, it is impossible to estimate a price tag." He suggested that the "initial phase of an arena, parking garage and the payment to Cal Expo could run" around $675-700M (BIZJOURNALS.com, 1/14). FANHOUSE.com's Tom Ziller wrote the NBA's "quick reversal on the Cal Expo project is surprising." The viability of the land-swap plan "depends on where the money comes from." Ziller noted "no one expects the Maloofs to contribute much, and public funding will likely be limited to land and tax breaks" (FANHOUSE.com, 1/14).
Penguins President Says Mellon Arena
Has Outlived Its Usefulness
USA World Cup Bid Committee Exec Dir David Downs said that Chicago did not make the list of 18 potential host cities for the '18 or 22 event because the city "balked at making financial guarantees that could have cost taxpayers" about $10M. Chicago was on the list of 27 U.S. finalists announced in August, but Downs said that Chicago Park District officials told the bid committee in "late December that they did not want Soldier Field ... to be part of their effort." In N.Y., Dan Mihalopoulos notes Soldier Field was "widely considered a shoo-in to host" games should the tournament be held in the U.S. (N.Y. TIMES, 1/15).
Twins Will Provide Fans With Wide Variety Of
Food Options When Target Field Opens April 12
ONE, TWO PUNCH: In Ft. Worth, Randy Galloway writes to call Cowboys Stadium "a 'success' seriously limits the impact." Since its grand opening in June, "nothing in sports, or beyond, has had this kind of $1.2[B] immediate wow factor." The "latest and newest addition to the Arlington lineup came this week," when it was announced that the facility will host the March 13 Manny Pacquiao-Joshua Clottey bout. Top Rank Chair Bob Arum told Cowboys Owner Jerry Jones the stadium will "take boxing to a place it's never been" (FT. WORTH STAR-TELEGRAM, 1/15).
BLOW OUT SALE: In New Jersey, John Brennan reports the Giants and Jets have hired memorabilia dealer Brandon Steiner to "direct memorabilia sales" from Giants Stadium. The teams are "attempting to recoup much or all of demolition costs." New Meadowlands Stadium Co. President & CEO Mark Lamping indicated that tearing down Giants Stadium "could cost nearly as much as the $17[M] tab for eradicating" Shea Stadium (Bergen RECORD, 1/15).