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SBD/February 3, 2012/Facilities
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NFL Approves $200M Financing Plan For 49ers' New Santa Clara Stadium
Amount is second largest contribution in history from NFL for a new stadium
The NFL Thursday approved $200M in league financing for the 49ers’ planned new stadium in Santa Clara, clearing one of the last hurdles for the first new football stadium in California since the '60s. “We have been working on this since 1997,” 49ers President & CEO Jed York told reporters after the owners' vote. “When you look at California, when you look at trying to build a new stadium in a state that doesn’t have too many new stadiums, this is a really big day not just for the 49ers but for the NFL and professional sports to make sure you have teams that have great facilities in the state of California.” The league financing, which is separate from the bank debt, is the first under a new version of the NFL's stadium-funding program. Unlike the old system, in which all the money essentially was grants, part of the new program involves loans. So some of the $200M is grant, and some loan. York said he expected initial construction to begin soon. The team hopes to have the stadium open by '14, though it could be '15 (Daniel Kaplan, SportsBusiness Journal). In San Jose, Howard Mintz in a front-page piece notes the amount "is the second largest contribution in history from the league for a new stadium." The NFL contributed $300M "for a joint stadium project for the New York Giants and New York Jets, and $150 million for stadiums in Dallas and Indianapolis." There had been "speculation the NFL would press the 49ers and Oakland Raiders to share the Santa Clara stadium in order to secure the financing, but York said there is no link to the $200 million contribution." York said, "We've been asked to keep the communications open." He added that he "worked out and had lunch with Raiders owner Mark Davis earlier Thursday in Indianapolis" (SAN JOSE MERCURY NEWS, 2/3).
MONEY TALKS: In S.F., Stephanie Lee notes Mayor Ed Lee "was not willing to concede the team was leaving the city, but his spokeswoman, Christine Falvey, acknowledged what city officials have privately said for years: Santa Clara will have to stumble for 49ers games to stay" in S.F. Falvey said, "San Francisco has always said that we have a solid plan B in place. San Francisco will always be there." Some S.F. officials "had been pinning their hopes largely on two factors: the 49ers not being able to line up financing for the stadium, and the league preferring the cachet of a San Francisco waterfront site over a parking lot next" to Great America theme park. York said of the NFL's stadium contribution, "We were only counting on $150 million, but it just goes to show the continued strength and support of the NFL and the owners of the team toward what will be an iconic building" (S.F. CHRONICLE, 2/3). Also in S.F., Gwen Knapp writes the "enormous financial responsibility taken on by Santa Clara almost makes San Francisco’s fumbles on a stadium deal seem tolerable to a city dweller." But with a "little finesse and minimal public financing, San Francisco might have held onto the team." Knapp: "Instead, we had a dilettante serving as mayor, and by the time he moved onto the weighty agenda of a lieutenant governor, Santa Clara had already voted" (S.F. CHRONICLE, 2/3).
WHAT'S NEXT FOR THE RAIDERS? CSNBAYAREA.com's Ray Ratto wrote the Raiders are a "franchise in serious flux, and without knowing what will confront Mark Davis in the next few months or years, the Raiders really can’t be counted on as a construction partner, neither in the Bay Area or in Los Angeles." Now that the Raiders "are not to be co-tenants in Santa Clara, presumably by their own choice, they either have to find their own billion-dollar sugar daddies while staying in Oakland, or look to get out while the getting is lucrative" (CSNBAYAREA, 2/2). -
CVC Gives Rams List Of Public Funding Sources For Edward Jones Dome
Plan lists higher fees for tickets and parking as possible public funding sources
The money to renovate the Edward Jones Dome could come "partly from higher fees for tickets and parking," according to Matthew Hathaway of the ST. LOUIS POST-DISPATCH. Those are "among the possible sources of public funding listed in a financial plan" the St. Louis Convention & Visitors Commission, which manages the Dome, has sent to the Rams. The plan is meant to "explain how to pay for $124 million in renovations to the Dome." It lists a ticket surcharge and the "creation of a new parking district, with a vehicle surcharge, as options." The plan also lists "bond refinancing, tax credits and tapping the reserves of the Dome's owner as other options." The one-page financial plan, however, is "short on specifics and does not list how much money each source of public funding would generate." It lists "only the total they would bring in: $59.5 million." The CVC "wants the Rams to pay for $64.5 million of the renovation costs." Officials said that they did "not list specifics or dollar amounts because the document was not meant to be a detailed financial analysis." They added that the idea was "simply to show the Rams that there are a variety of public funding options available." Hathaway notes "no decisions have been made on how much a ticket surcharge would be." The city "already charges a 5 percent amusement tax on Rams tickets" (ST. LOUIS POST-DISPATCH, 2/3).
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Chicago Alderman Wants Cubs To Get City's OK Before Installing New Signs At Wrigley
Tunney backs ordinance forcing Cubs to get City Council approval before installing sign
A landmark review panel gave the Cubs permission Thursday to "install an advertising sign with game information above the wall in the ballpark’s right-field bleachers," according to David Roeder of the CHICAGO SUN-TIMES. But the Cubs "may need to jump through more hoops before making their latest change" to Wrigley Field. Chicago Ald. Tom Tunney said that he is "backing an ordinance that would force the Cubs to get City Council approval before installing the sign." Tunney, whose ward includes Wrigley Field, said that the ordinance "would apply to any electronic sign of at least 100 square feet." While he "conditionally backs the sign, he wants the Cubs and city officials to agree on overall rules for future advertising within the park." The sign, about 7-by-75 feet, "would be part of the Budweiser Bleachers near the right-field corner." Behind it "would be a patio and seating area that would replace existing rows of bleachers." The Cubs already have "removed the old seats and hope to have the sign in place by Opening Day, April 5" (CHICAGO SUN-TIMES, 2/3).
SAME PARK, NEW EXPERIENCE: ESPN CHICAGO's Jon Greenberg noted the Cubs are "inviting bigger-spending fans to 'experience exclusivity'" at Wrigley Field. While they "haven’t formally announced the pricing of the new exclusive aspects of the Wrigley Field experience, the Cubs have unveiled a pricing scale for the new right field patio, along with a new ultra-premium suite, on their website." The new Budweiser patio is being marketed as "the Wrigleyville rooftop experience inside the ballpark," and the Cubs are "charging rooftop-like prices." There are "four pricing tiers for the section: $125 a ticket (silver), $150 (gold), $190 (platinum) and $250 (marquee). But as of "now, fans can’t buy solo tickets." This is "aimed solely at large groups, from bachelor parties to corporate outings." Tickets can be purchased "in blocks of 50, 100 or 150 and include food and drinks." Another "new addition to the offerings is the 'Legends Suite.'" Located on the "first base side of the suites level, the suite offers 14 tickets, an 'upgraded gourmet menu,' a pregame tour and most importantly, the company of a former Cub, who will autograph a 'unique gift'" (ESPNCHICAGO.com, 2/2).
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Marlins Put Finishing Touches On New Ballpark With Opening Day Nearing
Two JumboTrons in left and right field have been in place and both have been working
Marlins Ballpark is now "97 percent complete" and sod will be installed this weekend, according to Joe Capozzi of the PALM BEACH POST. The ballpark has "two aquariums behind home plate," and fish will be "added in about two weeks." As a precaution, the Marlins two weeks ago asked 1B Gaby Sanchez "to test the sturdiness of the glass tanks." Marlins President David Samson said, "He threw a ball as hard as he could against the tank and it didn't even make a mark and nothing moved inside the tank. We have an extra layer of glass in front of the glass that's in front of the fish. No ball will hit the tank as fast as Gaby threw it, that's for sure." Two JumboTrons in left and right field "have been in place and both have been working for a while." The statue in left-center field "will be tested at the end of February and the pitchers' mound will be installed soon." The team "still hopes to land a naming-rights deal this season," but Samson confirmed that the facility "will be called Marlins Park when the season opens." He said, "We're still negotiating with companies but it's such a long-term deal and the numbers are so big that you want to do the right partner at the right time" (PALM BEACH POST, 2/3). Samson said, "We are 62 days away from delivering the first ever ballpark with not a dollar of over-runs. We said it from the beginning, and we have done it." MLB.com's Joe Frisaro noted the team "expects to leave the roof shut for more than 80 percent of its games," but when a game "isn't going on, the roof will remain open." Samson: "The roof will stay open to let the grass grow until Opening Night" (MLB.com, 2/2).
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New Balance Proposing New Office, Sports Complex In Massachusetts
New Balance is proposing to expand its Brighton, Mass., campus "with a new headquarters building, a track and field center, shops and restaurants, and a hockey rink," according to Ross & Rocheleau of the BOSTON GLOBE. The development would be located “on 14 acres the company wants to be known as Boston’s new ‘health and wellness district,’ on Guest Street near the Massachusetts Turnpike.” In addition to a new HQs, the company said that it “wants to build as many as three new office buildings that would be occupied by other ‘like-minded’ businesses, along with a boutique hotel, sports-related retail shops, restaurants, and a public park.” New Balance is “also seeking construction of a new commuter rail station" near the proposed development. A New Balance spokesperson declined to provide a cost estimate for the project, although a "prior version was valued at about $250 million.” The company will spend “the next several months meeting with community groups and city officials to craft a more detailed vision for the site” (BOSTON GLOBE, 2/2).






