SBJ/20090112/SBJ In-Depth

Sports projects play the waiting game

Barclays Center
Barclays Center
Proposed location: Brooklyn, N.Y.
Announced: 2003
Projected opening: 2011
Projected cost: $950 million
Tenant: NBA Nets
Current home (built): Izod Center (1981)
Status: Nets owner Bruce Ratner first announced a $4 billion project in Brooklyn that included a $435 million arena to open in the summer of 2006. Construction has yet to begin due to problems with financing and neighborhood opposition. The arena’s price had ballooned to $950 million by March 2008, although team officials told SportsBusiness Journal in December that the venue is on track to open in 2011.
Chargers Stadium
Proposed locations: Multiple sites in Chula Vista, Calif.; Qualcomm Stadium site
Announced: 2002
Projected opening: TBD
Projected cost: $1.2 billion
Tenants: San Diego Chargers, San Diego State University football, Pacific Life Holiday Bowl, San Diego County Credit Union Poinsettia Bowl
Current home (built): Qualcomm Stadium (1967)
Status: Chargers officials first proposed a $400 million stadium on part of the Qualcomm Stadium property in San Diego’s Mission Valley. Chula Vista officials also are discussing multiple sites where the Chargers could build. Like many California municipalities, however, Chula Vista is facing a severe budget crisis, which could hurt the team’s efforts to obtain public financing.
D.C. United Stadium
Projected opening: TBD
Projected cost: $150 million
Tenant: MLS D.C. United
Current home (built): RFK Stadium (1961)
Status: Negotiations between the team and the city fell apart last summer, leading the team to say it is searching for other sites, possibly in Northern Virginia or Maryland.
Kansas City Wizards Stadium
Projected opening: 2011
Projected cost: $100 million
Tenant: MLS Kansas City Wizards
Current home (built): CommunityAmerica Ballpark (2003); Arrowhead Stadium (1972)
Status: In November, the Missouri Development Finance Board approved $30 million in state tax credits toward development of the site of the Bannister Mall. Two-thirds of the voters in Johnson County, Kan., voted against a $75 million bond issue in 2006 that would have funded a soccer complex for the club.
Cisco Field
Cisco Field
Proposed location: Fremont, Calif.
Announced: 2006
Projected opening: 2012
Projected cost: $450 million
Tenant: Oakland A’s
Current home (built): Oakland-Alameda County Coliseum (1966)
Status: The ballpark would anchor a 240-acre, mixed-use development and would be privately financed primarily from the sale of surrounding “ballpark village” residential and commercial properties. Team officials announced in December, however, that they have decided to look at additional sites in case the original proposal falls through.
Madison Square Garden Renovation
New York
Announced: 2008
Projected opening: 2011
Projected cost: $500 million
Tenants: New York Knicks, New York Rangers, WNBA New York Liberty
Current home (built): Madison Square Garden (1968)
Status: In April 2008, MSG unveiled plans for a privately funded $500 million renovation. Construction has not begun, but is slated to begin this summer and is targeted to open in time for the 2011-12 Knicks and Rangers seasons. The announcement ended efforts, originally announced in 2000, to get a new arena built as part of a $14 billion overhaul of the adjacent Pennsylvania Station. That project stalled when enough public funding never materialized.
Rays Ballpark
Announced: 2007
Projected opening: 2010
Projected cost: $450 million
Tenant: Tampa Bay Rays
Current home (built): Tropicana Field (1990)
Status: In June, the team abandoned its attempts to get a financing vote on the November ballot, and postponed the project indefinitely, after city and county leaders said more time was needed to create a development plan.
Marlins Ballpark
Proposed location: Miami
Announced: 2003
Projected opening: 2012
Projected cost: $515 million
Tenant: Florida Marlins
Current home (built): Dolphin Stadium (1987)
Status: A circuit court ruling in November said that a voter referendum was not required for the 37,000-seat stadium’s financing plan, the final remaining courtroom hurdle for the team. The retractable-roof facility is scheduled to be built near downtown Miami in the area known as “Little Havana,” at the site of the former Orange Bowl. Groundbreaking and construction are scheduled to start in May.
Nassau Veterans Memorial Coliseum Renovation
Announced: 2004
Projected opening: 2013 or 2014
Projected cost: $300 million
Tenant: New York Islanders
Current home (built): Nassau Veterans Memorial Coliseum (1972)
Status: County and team officials announced in 2004 an ambitious plan to renovate Nassau Veterans Memorial Coliseum. The centerpiece of the project was to be a 60-story tower designed to look like a lighthouse, but was later scrapped. In August 2007, Islanders owner Charles Wang and Reckson Associates Realty Corp. CEO Scott Rechler formally filed plans to renovate the coliseum at a cost of $300 million.
Sacramento Arena
Projected opening: TBD
Projected cost: TBD
Tenant: Sacramento Kings, WNBA Sacramento Monarchs
Current home (built): Arco Arena (1988)
Status: Little progress has been made since the California Exposition & State Fair voted in October 2007 to open negotiations with the NBA on building a new arena at the state fairgrounds on its land northeast of downtown. Two earlier voter referendum efforts did not go well for the team.
San Francisco 49ers Stadium
San Francisco 49ers Stadium
Proposed location: Multiple sites in Santa Clara, Calif., and San Francisco
Announced: 1997
Projected opening: TBD
Projected cost: $600 million
Tenant: San Francisco 49ers
Current home (built): Candlestick Park (1960)
Status: City officials in October announced a $2 billion remake of Hunters Point Naval Shipyard and nearby Candlestick Point that included incentives for the 49ers to stay in the city. A total of 61 percent of San Francisco voters approved the expenditure last June. Team officials have publicly stated their desire to move to Santa Clara, approximately 40 miles south of San Francisco, tired of stadium negotiations that have dragged on for more than a decade. In 2006, Mayor Gavin Newsom announced a new stadium as the centerpiece of a bid to host the 2012 Summer Olympics, but the city lost out to Chicago for the right to represent the U.S. Olympic bid.
Vikings Stadium
Vikings Stadium
Proposed location: Minneapolis
Announced: 2007
Projected opening: 2012
Projected cost: $954 million
Tenant: Minnesota Vikings
Current home (built): Hubert H. Humphrey Metrodome (1982)
Status: The team’s lease keeps it in the Metrodome until 2011. The Legislature began its 2009 session last week and the stadium project is expected to be one of the first issues the House and Senate will discuss. Former owner Red McCombs had pursued a new stadium in the northern Twin Cities suburb of Blaine, and a referendum was scheduled in the autumn of 2006. However, just before the 2006 NFL season, McCombs sold the team to Zygi Wilf, who made it clear that he wanted a downtown facility. Other failed, earlier proposals included a joint Vikings/University of Minnesota football stadium and a two-stadium proposal for the Twins and Vikings in Eden Prairie, Minn.
Source: SportsBusiness Journal archives
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