SBD/December 6, 2013/Facilities

Facility Notes

Toronto's city council urged the arena’s proponents to seek funding from elsewhere
In Toronto, Tony Van Alphen notes the idea of constructing an NHL-sized arena in Markham with public money "absorbed a solid body check early Thursday." The city council voted "overwhelmingly in favour of resolutions" to rescind a public-private financial partnership for the C$325M project and "urge the arena’s proponents to seek funding from outside sources." Deputy Mayor Jack Heath said that the city "won’t be providing loans, guarantees or instituting special levies to help make the project more attractive to private investors" (TORONTO STAR, 12/6). Markham Mayor Frank Scarpitti said, "I think it will be tough to try to attract this type of investment to our community with the parameters that have been set by council" (TORONTO STAR, 12/6).

BOMBS AWAY: In Oakland, Jeff Faraudo notes Cal's field naming-rights deal with Kabam "provides one more revenue source." The school has "diversified its approach to paying down" the combined $474M debt on the stadium renovation and retrofit and on the "construction of the Simpson Center training facility." Cal AD Sandy Barbour said that at "no time did Cal consider selling naming rights to Memorial Stadium itself." Cal Vice Chancellor/Administration & Finance John Wilton said that the money "will be invested in the stadium endowment fund and should grow" by 6-7% per year (OAKLAND TRIBUNE, 12/6).

OTHER OPTIONS: ISC Vice Chair & CEO Lesa France Kennedy said that Daytona Int'l Speedway "could host other events such as international soccer and college football games once the Daytona Rising project is completed" in '16. Kennedy said, "NASCAR is always going to be our primary revenue driver, but we're going to look at some other things. International soccer friendlies, for instance. Might want to host some of those, or concerts. It's going to be more flexible than the current speedway that we have, and it's going to offer a lot more options. We are also in discussions with several universities about NCAA football. That might be kind of exciting" (NASCAR.com, 12/3).
Return to top

Related Topics:

Facilities

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug