Menu
Facilities

Blues Ownership Sues In Effort To Make St. Louis Comptroller Sign Off On Arena Upgrades

Blues ownership is asking a judge to "order the St. Louis comptroller to sign off" on a $64M financing agreement for Scottrade Center renovations, according to a front-page piece by Mike Faulk of the ST. LOUIS POST-DISPATCH. The deal was approved by the Board of Aldermen in a 15-12 vote in February, but St. Louis Comptroller Darlene Green has "refused to sign the agreement, saying it would hurt the city’s credit rating." The Blues are "seeking what’s called a writ of mandamus, a court order directing a government official to fulfill his or her duties." Green’s stance "suggests the law gives her discretion not to sign." Blues owners said that they have "met with Green and her staff multiple times over the last six months to attempt to get her signature on the agreement." They added that Green instead tried to "negotiate a different financing plan." Combined with interest, the "cost to the city for the renovations over 30 years" is estimated at $105M. The plan includes $50M from a Community Improvement District tax on sales at Scottrade Center "over the next 30 years." To help pay off the debt, $55M from a 5% tax on ticket sales "would be used." Part of the debt payment "still will come from general revenue" (ST. LOUIS POST-DISPATCH, 8/16). The city of St. Louis owns Scottrade Center, and the owners of the Blues, St. Louis Blues Hockey Club LP and Kiel Center Partners LP, in '92 entered a "50-year lease for the center at a rate of $1 per year" (BIZJOURNALS.com, 8/15).

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/2017/08/16/Facilities/Scottrade-Center.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/2017/08/16/Facilities/Scottrade-Center.aspx

CLOSE