Facility Notes
In Portland, Rachel Bachman reports the Oregon state treasurer's office, along with others working on the Univ. of Oregon's planned basketball arena project, elected to use "taxable rather than non-taxable bonds to finance the $200[M] arena," a decision that will "raise the arena's annual debt service to about $17.2[M], including payments for land and a parking structure." But the use of taxable bonds will "allow the university more flexibility in marketing and sponsorship deals, and freer use of the $100[M] athletic legacy fund pledged by" Nike Chair Phil Knight (Portland OREGONIAN, 5/9).
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Martinsville Speedway Spending $2M On
Upgrades Ahead Of October Cup Race |
TRACK CHANGES: In Charlotte, David Poole reported Martinsville Speedway will spend "more than $2[M] in improvements" before the October 19 NASCAR Sprint Cup Series Tums QuikPak 500 at the track. The "most noticeable difference will be a new 120-foot tall scoreboard positioned behind the backstretch." The scoreboard will have three 30-foot video screens and "replace a scoring pylon inside the track that showed only the top five cars at any one time" (CHARLOTTE OBSERVER, 5/8).
TOO SLOW: In Arizona, Rob O'Dell reported new Tucson City Council mandates mean "plans for a 12,300-seat arena designed to resemble a desert tortoise are dead." Council support for the arena "evaporated after an updated financial analysis showed the cost had grown from the $130[M] originally approved by the council to $196[M]." The council Tuesday "unanimously reiterated its order that the cost of a new Downtown arena not exceed" $130M (ARIZONA DAILY STAR, 5/7).
DOWNS DISPUTE: In Louisville, Gregory Hall reported Churchill Downs Inc. (CDI) CEO Bob Evans "expects purses to be cut" at the track next week because of a "dispute with horsemen over account-wagering revenues." Evans said that another purse cut will be made later this week at CDI's Calder Race Course near Miami. Hall noted Calder's purses previously were cut 30% (Louisville COURIER-JOURNAL, 5/8).
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