SBD/February 22, 2012/Facilities

Print All
  • NBA Commish Says Kings Agree To Make Substantial Contribution To Arena Deal

    Stern hopes there will be a financing plan that makes sense by March 1 deadline

    NBA Commissioner David Stern yesterday said that Kings Owners the Maloof family "have agreed to make a substantial contribution to" the city of Sacramento's $387M arena deal, but he "did not disclose how much," according to Tony Bizjak of the SACRAMENTO BEE. Stern said that he "expects negotiations between the league and city to continue into the weekend." He said, "There is a lot of discussion going on. We're hoping by the March 1 deadline there will be a financing plan that makes sense." Stern indicated that he "considered any contribution to the arena from the probable arena operator, AEG, to be a team contribution." City officials have said that they expect AEG to "put about" $50M into the deal as upfront money. The city is reported to have "asked that the Kings put in about" $85M of their own money. Stern said, "The team has agreed to a substantial contribution, both directly from itself, but also by catalyzing AEG to be interested. In effect, whatever money AEG puts in is because of give-backs by the team ... so we see that as a team contribution" (SACRAMENTO BEE, 2/22).

    Print | Tags: Facilities, Sacramento Kings
  • Officials Optimistic Vikings Stadium Issues Will Be Resolved Within A Week

    Wilf said Vikings will offer in excess of $400M toward arena project

    Vikings Owner Zygi Wilf and Minnesota Gov. Mark Dayton said yesterday that the issues standing in the way of a deal for a new stadium in downtown Minneapolis are "small and should be resolved within a week," according to Doug Belden of the ST. PAUL PIONEER PRESS. Wilf "declined to specify the terms of the deal as they stand, but he said the team will offer 'in excess of $400 million' toward the project." Asked if Arden Hills is "dead as a possible site," Wilf said, "I'm never going to say never." But he added, "We're very close on hammering a deal right now for the Minneapolis location at Metrodome." Negotiators have been "trying to craft a deal that would allow the Vikings to continue playing in the Dome while a new stadium is built nearby." That would "reduce the time required to play" at the Univ. of Minnesota's TCF Bank Stadium, which is "smaller than the Dome and not fully equipped for NFL games." Wilf said that "estimates are the team would have to play at TCF for one to two years" (ST. PAUL PIONEER PRESS, 2/22). In Minneapolis, Kaszuba & Roper note the "hurdles in Minneapolis remained twofold: A City Council majority does not back a plan to use city taxes for a stadium without a referendum, and stadium supporters insist that including money for the city's Target Center would be likely to cost the package legislative votes" (Minneapolis STAR TRIBUNE, 2/22).

    Print | Tags: Facilities, Minnesota Vikings
  • Facility Notes

    In Detroit, Louis Aguilar reports Red Wings head coach Mike Babcock “urged the state government Tuesday to support plans to build a new hockey arena in downtown Detroit and vaguely referred to a development perhaps connected to it -- a mall.” Babcock said, "If you want the city to come back, you got to revitalize downtown. And a big part of that's going to be the new arena, and the mall and the stuff going around it.” Aguilar notes Babcock's “reference to ‘the mall’ feeds into speculation that a shopping center might be connected to an arena development plan” (DETROIT NEWS, 2/22).

    NO HARM DONE: In Orlando, Mark Schlueb reports Judge Alice Blackwell yesterday ruled that she “will not stop a security fence from going up between the 2012 NBA All-Star Game and businesses across the street.” A group of merchants had asked Blackwell for “an emergency injunction to block the 8-foot fence from going up Thursday night through Sunday.” But after hearing testimony, Blackwell ruled that the “potential economic harm to the businesses wasn't reason enough to alter the security plan for the high-profile event.” Magic President Alex Martins testified the fence “is part of a security plan developed by the NBA, FBI and U.S. Department of Homeland Security” (ORLANDO SENTINEL, 2/22).

    NOT A KOSHER DEAL: In N.Y., Mitchel Maddux reports a judge yesterday “ruled against a vendor who made a federal case" out of the Mets' "order that it not peddle kosher hot dogs on Friday nights and Saturdays.” In '09, Citi Field’s inaugural season, the Mets and Kosher Sports “signed a pact that did not specifically address the issue -- and the company set up shop in the stadium.” But soon the Mets “ordered the firm not to open its hot-dog stands during Friday night and Saturday day games -- when sales are especially good.” The company “did as the team demanded, but also filed suit, pointing out that its contract did not specifically prohibit Sabbath sales” (N.Y. POST, 2/22).

    SMOKING SECTION: In Daytona Beach, Skyler Swisher reported smoking "will no longer be allowed" in Daytona Int'l Speedway's grandstands starting with the NASCAR Sprint Cup Series Coke Zero 400 in July. Fans will “be required to use designated smoking areas behind the grandstands.” DIS President Joie Chitwood said that the ban “is not mandatory yet because smokers purchased their tickets under the presumption they could smoke” during this weekend's NASCAR races (Daytona Beach NEWS-JOURNAL, 2/21).

    Print | Tags: Facilities
Video Powered By - Castfire CMS Powered By - Sitecore Digital Agency - Digitaria

Report a Bug

© 2012 American City Business Journals. All rights reserved. Use of this Site constitutes acceptance of our User Agreement (updated 3/14/12) and Privacy Policy (updated 3/14/12).

Your California Privacy Rights.

The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of American City Business Journals.

Ad Choices.