| | The Daily Insider
Morning News & Headlines
Wednesday, August 20, 2003
9:00am ET | |
| |
| • | Magna Int’l Shareholders Vote To Spin Off Real Estate, Racetrack Businesses |
| • | Presidents Cup To Make Fourth Stop At VA Robert Trent Jones Course In ‘05 |
| • | Chargers To Unveil Still-Evolving Stadium Plans To San Diego Public Today |
| • | United Make Deal For Salvadoran Player; Could Help Team At The Gate |
| • | Seven Firms Express Interest In $4.6M KeyArena Refurbishment Project |
| • | Morning Briefs/In Other News/Laugh Track/TV Monitor/Final Jeopardy! |
MAGNA’S RACETRACK BUSINESS TO BE SPUN INTO MI DEVELOPMENTS
The Toronto GLOBE & MAIL reports that Magna Int’lshareholders “voted overwhelmingly yesterday to spin off its real estate subsidiaryand racetrack business into a company slated to begin trading publicly” onSeptember 2. The new company, MIDevelopments, “will become Canada’s fourth-largest publicly traded real estatecompany” with $1.1B worth of real estate. Pending regulatory approval, shares of MI Developments will initiallybegin trading on an “if-as-and-when-issued” basis – an informal market forsecurities operated by brokers before shares are issued – today on the TSX andNYSE. Shares of Magna closed yesterdayat $112.43 after hitting a 52-week high of $113.22 on the TSX (TorontoGLOBE & MAIL, 8/20).
TIM FINCHEM TO ANNOUNCE TODAY PRESIDENTS CUP RETURN TO VA
The WASHINGTON POST reports PGA Tour Commissioner TimFinchem today will announce that the Presidents Cup “will return to theWashington area in September 2005, the fourth time the match play competition …will be contested at Robert Trent Jones Golf Club” in Gainesville, VA. Event General Chair George Burgersaid that ticket sales “likely will be limited to about 20,000, the same as the2000 event, in order to assure that spectators will be able to see theaction. Ticket and corporatehospitality sales likely will begin early next year” (WASHINGTONPOST, 8/20).
CHARGERS TO MAKE STILL-EVOLVING STADIUM PLANS PUBLIC TODAY
The SAN DIEGO UNION-TRIBUNE reported that the Chargers todayintend to make their “still-evolvingstadium plans public so people can draw their own conclusions,” after a SanDiego City Council member said the designs “don’t even pass the laugh test.” Chargers Special Counsel Mark Fabiani:“We are eager to present our concept that would allow the Chargers to pay forthe entire cost of the stadium, but it is only a concept. A truly workable plan will emerge only afterseveral years of work with the public and a vote in 2006” (SANDIEGO UNION-TRIBUNE, 8/15).
CERRITO’S NATIONALITY “HAD LITTLE TO DO” WITH UNITED DEAL
The MLS trade deadline is today at 5:00pm ET, and theWASHINGTON POST reports that DC United yesterday acquired Burn F RonaldCerritos of El Salvador. Theaddition of Cerritos might “help United at the gate.” Despite signing Salvadoran MF-F Eliseo Quintanilla a yearago, the club “has struggled this season to attract fans from the Salvadorancommunity, which turned out in large numbers during United’s championshipseasons with star forward Raul Diaz Arce.” United’s average attendance has dropped from 16,519 last year to14,921 this year, but United Technical Dir Dave Kasper said thatCerrito’s nationality “had little to do” with the deal (WASHINGTONPOST, 8/20).
KOBE CASE: OPINION SAMPLING IN EAGLE, INFORMATION GATHERING
The L.A. TIMESreports that Boulder, CO-based research firm Talmey-Drake Research &Strategy has “begun sampling the opinions of residents in Eagle County” on the KobeBryant case. It is assumed thatBryant’s defense attorneys are “paying Talmey to explore if a change of venuein Bryant’s likely trial is necessary in a county where less than 1% of thepopulation is black” (L.A.TIMES, 8/20).
The VAIL DAILYreported that Bryant’s attorneys have “filed a motion opposing proposed changesin how the media is allowed to gather information around the courthouse. Media outlets requested that they be allowedto do interviewsand take photographs and video in the courthouse corridors, and on thecourthouse grounds.” In his July 24 ruling, Eagle County Judge Fred Gannett“banned such actions as part of his media decorum order” (VAILDAILY, 8/19).
MORNING BRIEFS
The L.A. TIMES reports that ABC Sports Exec Producer MikePearl has “met with Al Michaels to discuss the possibility” ofMichaels working the net’s NBA games. If Michaels accepts the assignment, “he would not work all of ABC’s 18regular-season” broadcasts (L.A.TIMES, 8/20).
The TACOMA TRIBUNE reported that the Seattle Center has“received seven inquiries from firms interested in designing the $4.6[M]enhancement the city has in mind for KeyArena.” A firm will not be selected “until probably mid-September” (TACOMATRIBUNE, 8/19).
The Toronto GLOBE & MAIL reports that Rogers Cable is“talking to the [NFL] about incorporating some of the technology” that NFLSunday Ticket will be offering in the U.S. for its Canadian viewers. Sunday Ticket’s U.S. content will includefour enhanced games per week, in which the screen will be “reduced in size byabout 25[%] to make room for statistical information and scores.” Rogers owns the Canadian rights to NFLSunday Ticket (TorontoGLOBE & MAIL, 8/20).
ESPN.com reported that IRL driver Sam Hornish, Jr.“all but said his next challenge would be [in NASCAR]. And all signs point to Roger Penske’smultipurpose operation being his next stop” (ESPN.com, 8/19).
REUTERS reports that Cuban gymnasts Michel Brito Ferrerand Charles Leon Tamayo, who are participating in the World GymnasticsChampionship at Arrowhead Pond in Anaheim, “have defected and are seekingasylum” in the U.S. (REUTERS, 8/20).
The AP reports thatItalian Prime Minister Silvio Berlusconi’s government yesterday“hurriedly approved a decree … aimed at ensuring that the Serie A season beginson time despite financial scandal and other uncertainty.” The measure “bolsters the powers of Italy’ssports-governing bodies,” and limits the power of administrative tribunals (AP,8/20).
USA TODAY reports that as part of a questionnaire “onpossible rules changes for the 2004 [football] season, coaches in all NCAAdivisions will be asked – for the first time – if they want referees toannounce the jersey numbers of players who commit infractions” (USA TODAY,8/20).
ATTENDANCE WATCH:
- A crowd of 34,869 attended last night’s Reds-D’Backs game at Bank One Ballpark, where the D’Backs distributed backpacks courtesy of Discount Tire Company to all fans 15-years-old or younger (THE DAILY).
A LIGHTER BUZZ
The ATLANTA CONSTITUTION notes, “Thoseguys at EA Sports are getting a little touchy about suggestions that being onthe cover of their video game spells danger. … A publicist sent out an e-mail[yesterday] debating the issue, though he added, ‘But just in case, we’rehaving [college football coverboy] Carson Palmer bubble-wrapped’” (ATLANTACONSTITUTION, 8/20).
THE BACK PAGES
The Morning Buzz offers today’s back page sportscovers from some of the nation’s major metropolitan tabloids:
| | |
| N.Y. Post | N.Y. Daily News |
TODAY’S EVENTS
ABC Sports will conduct an 11:00am ET conference call topreview the net’s coverage of this weekend’s Little League World Series. Senior Coordinating Producer Curt Gowdy, Jr.,as well as announcers Brent Musburger and Harold Reynolds willparticipate.
Entries for the 134th running of the TraversStakes will be taken this morning, and the N.Y. POST reports that it “now appears certain that Funny Cide willjoin the five confirmed candidates.” Nonetheless, trainer Barclay Tagg “steadfastly maintains it is‘highly unlikely’” Funny Cide will actually run in the race (N.Y. POST, 8/20).
Packers COO & Exec VP John Jones, Dir of AtriumBusiness Development Steve Klegon and Dir of Administrative Services MarkSchiefelbein will host a media tour of the renovated Lambeau Field andAtrium at 9:30am CT.
The Vince Lombardi Titletown Legends Charitable Organizationwill host a Lombardi Leadership event at the KI Convention Center in Green Bayfrom 9:00am-5:00pm CT. VinceLombardi, Jr. and former Packers Bart Starr, Jerry Kramer, WillieDavis and Max McGee are scheduled to offer personal memories of andlessons learned from Lombardi.
IN OTHER NEWS….
The AP reports that the government yesterday approved thesale of Bayer AG’s erectile dysfunction drug Levitra, which is marketed byGlaxoSmithKline (AP, 8/20). The two companies signed a multi-year dealin May to become official NFL sponsors with exclusivity in the men’s healthcategory to promote the product. Additionally, Mike Ditka signed on as an endorser of the productin May (THE DAILY).
The HOUSTON CHRONICLE reports that in a “bow to the expectedSuper Bowl crowd,” U.S. District Court Judge David Hittner delayed juryselection for the criminal trial of the Lea Fastow, the wife of formerEnron CFO Andrew Fastow, until February 10, “two weeks later than theoriginal January 27 date.” Super BowlXXXVIII is scheduled for February 1 (HOUSTONCHRONICLE, 8/20).
The WASHINGTON POST reports that FCC Chair Michael Powelltoday plans to announce measures “designed to ensure that [TV] stations areserving local viewers, in a bid to respond to widespread criticism of the mediaownership rules he pushed through the FCC in June.” However, public interest group Media Access Project yesterdayasked the FCC to “postpone the new ownership rules until Congress finishes itswork on the bills. But FCC officialssaid today’s announcement would not include calls to postpone or revisit therules” (WASHINGTONPOST, 8/20).
FINAL JEOPARDY!
Last night’s “Final Jeopardy!” category was “FictionalCharacters.”
“In works written about 300 years apart, Nick Bottom andPinocchio find themselves transformed into these.”
TUESDAY NIGHT’S TV MONITOR
ESPN’s 11:00pm ET “SportsCenter” led with A's-Red Sox,followed by Royals-Yankees and Angels-White Sox.
FINAL JEOPARDY ANSWER
“What are donkeys?”
If you haveany questions, comments or suggestions, please let us know at:
dailyinsider@sportsbusinessdaily.com
TheMorning Buzz provides an early update of the news and headlines each Mondaythrough Friday at approximately 9:00am ET. If you would like to sign up for ane-mail alert to the Morning Buzz, go to My Account and personalize your e-mail alert options.
