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  • SBD Article

    Cavaliers "Quietly" Seeking County Funds For Arena Overhaul, Despite Sin-Tax Approval

    Published January 30, 2015

    The Cavaliers have “quietly inquired whether the Cuyahoga County government would provide" public money to "overhaul the publicly-owned Quicken Loans Arena," according to Andrew Tobias of the Cleveland PLAIN DEALER. The funding would be in addition to the “sin tax dollars voters approved last year.” Gateway Economic Development Corporation BOD Chair Tim Offtermatt, whose non-profit is the landlord for the arena and Progressive Field, said that the team has “not yet presented an official propo...

    Tags: Facilities, Cleveland Cavaliers, NBA
  • SBD Article

    Bettman Meets With Calgary Mayor, Tells Fans Flames Need New Arena

    Published January 30, 2015

    ...jor-league city to have first-class, major-league facilities and to use it as an opportunity to transform it."...

    Tags: Facilities, Calgary Flames, NHL
  • SBD Article

    Marquette, Bucks Align For Sports Performance Center; New Arena Partnership To Follow?

    Published January 30, 2015

    The Bucks and Marquette Univ. on Thursday announced a "new partnership that will include the construction of a multipurpose center that supports college and professional athletes as well as academic research and wellness initiatives," according to a front-page piece by Herzog & Walker of the MILWAUKEE JOURNAL SENTINEL. Bucks President Peter Feigin on Thursday said that the facility "is still in the conceptual phase." Design of the facility will be on a "six-month 'fast track,' with constructi...

    Tags: Facilities, Milwaukee Bucks, NBA
  • SBD Article

    Cross Insurance Lands Naming-Rights Deal For Pavilion At Gillette Stadium

    Published January 30, 2015

    Maine-based Cross Insurance has "snagged the naming rights for a pavilion at Gillette Stadium," according to Jack Newsham of the BOSTON GLOBE. The announcement came six months after the Patriots filed suit against Bacardi for "backing out of a naming-rights deal for the pavilion." Cross Insurance Pavilion & Business Center will be "similar to what was previously called Casa Bacardi in ads and other promotional materials produced by the Patriots, but its opening has been delayed until summer."...

    Tags: Facilities, New England Patriots, NFL
  • SBD Article

    NASCAR HOF Sponsorship Revenue Falls By More Than 90% In Past Three Years

    Published January 29, 2015

    The NASCAR HOF’s projected revenue from sponsorship commitments "is declining significantly," dropping from $1.5M in '12 to $110,000 for the fiscal year starting in July, according to a front-page piece by Steve Harrison of the CHARLOTTE OBSERVER. The loss of sponsorship revenue "could further explain why Bank of America and Wells Fargo recently agreed to a deal in which they would forgive" $17.6M in interest and principal from a $19.1M HOF-related loan in exchange for a $5M payment. The loan...

    Tags: NASCAR, Facilities
  • SBD Article

    NHL Facility Notes: Glendale Could Lose As Much As $8.8M On Coyotes This Year

    In Phoenix, Mike Sunnucks reports the City of Glendale lost $1.8M in its arena deal with the Coyotes during the first half of its current fiscal year, and the city budget states that the losses "could total as much" as $8.8M for the full fiscal year. From July through December, the city allocated $3.75M to the Coyotes owners and "spent $500,000 on capital improvements" for a total of $4.25M. Revenue for the same six months "shows arena revenue to the city coming in" at $2.5M (BIZJOURNALS.com,...

    Tags: Facilities, NHL
  • SBD Article

    Univ. Of Oklahoma President Denies Report Of Delayed Football Stadium Renovations

    Published January 29, 2015

    Univ. of Oklahoma President David Boren yesterday "emphatically denied a report" that he has postponed renovations to Gaylord Family-Oklahoma Memorial Stadium, but he did admit "falling oil and gas prices have hurt fundraising efforts for all OU projects," according to Jason Kersey of the OKLAHOMAN. Boren said, "When you have people lose half their net worth over the period of two, three weeks, and they’re donors to the university and they want to give to the university, it hurts all fundrais...

    Tags: Facilities, Big 12
  • SBD Article

    NASL Indy Eleven Unveil Renderings For $82M, 18,500-Seat Downtown Stadium

    Published January 29, 2015

    The NASL Indy Eleven yesterday released renderings of a proposed $82M soccer stadium "being considered by the Indiana legislature," according to Mark Alesia of the INDIANAPOLIS STAR. Team President & GM Peter Wilt said there are "three or four" potential downtown locations for the stadium. The 18,500-seat venue "has a large canopy roof over most of the seats that Wilt described as 'almost like the (Bird's) Nest at the Beijing Olympics.'" Wilt said he is "cautiously optimistic" that lawmakers ...

    Tags: Facilities
  • SBD Article

    Wisconsin Gov. Walker Proposes $220M In State Bonds Toward New Bucks Arena

    Published January 28, 2015

    Wisconsin Gov. Scott Walker yesterday said that new growth in income tax revenue from Bucks players, employees and visiting teams will "generate enough money to cover debt payments" on $220M in state-issued bonds for a new arena, according to Don Walker of the MILWAUKEE JOURNAL SENTINEL. Gov. Walker called the funding a "Pay Their Way" proposal. In addition to the state bonds, Bucks co-Owners Wes Edens and Marc Lasry are "providing at least" $150M in arena funding. Former Owner Herb Kohl has ...

    Tags: Facilities, Milwaukee Bucks, NBA
  • SBD Article

    Inglewood Residents Likely To See NFL Stadium Measure On June Ballot

    Published January 28, 2015

    Inglewood, Calif., city officials yesterday said that they "expect an initiative asking voters to approve plans" for a $2B, 80,000-seat, NFL-ready stadium at Hollywood Park "to be on the ballot in time for a June 16 election," according to Scott Reid of the ORANGE COUNTY REGISTER. Passage of the initiative "would eliminate another hurdle" for Rams Owner Stan Kroenke’s potential plans to relocate the team to Inglewood. The Inglewood City Council "unanimously approved contracts with two firms t...

    Tags: Facilities, St. Louis Rams, NFL
  • SBD Article

    Hillsborough County Hires Firm With MLB Ties; Manfred Offers Help In Rays' Ballpark Search

    Published January 28, 2015

    One of the "most notable steps Hillsborough County has taken toward its desire to woo the Tampa Bay Rays to the county was also one of the quietest," as county commissioners in October "agreed to hire Foley & Lardner, a law firm with extensive ties" to MLB, according to William Levesque of the TAMPA BAY TIMES. Under terms of the "one-year contract, the firm will be paid a flat monthly fee of $4,500 and attorneys can bill an hourly rate of up to $395." Wisconsin-based Foley & Lardner has "offi...

    Tags: Facilities, Tampa Bay Rays, MLB
  • SBD Article

    NHL Jets' Plan To Develop Portion Of Downtown Winnipeg Could Be Put On Hold

    Published January 28, 2015

    Winnipeg Mayor Brian Bowman this week said that a plan for the NHL Jets to develop property near the downtown MTS Centre "could be put on hold in order for the development to go to public bid," according to Kristin Annable of the WINNIPEG SUN. Details of True North Sport & Entertainment’s "plan to develop the site at the former Carlton Inn were confirmed Monday by the company -- which owns the NHL team -- and CentreVenture, the city’s arms-length downtown development agency." True North offic...

    Tags: Facilities, Winnipeg Jets, NHL
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