"Madison Square Garden, out of the boxing business for more than 18 months, would like to return to boxing in a big way -- with George Foreman's first title defense." MSG President Dave Checketts "floated" the idea to Seth Abraham, President of Time Warner Sports. But Bob Arum, Foreman's promoter, quickly shot down the deal: "George is not going to subject himself to the 11% state and city taxes you have to pay to fight in New York." But Checketts still hopes to land Foreman: "The crowd treats it like a big event and I know George loves New York" (N.Y. POST, 11/22). Abraham said the Astrodome or Superdome are "more appealing" to Foreman (Richard Sandomir, N.Y. TIMES, 11/22).
The S.F. Giants extended their lease at Candlestick Park for five years. The deal would be in effect through 1999 with an team option to extend it to 2004. The team will retain an escape clause pending the sale of the team, and will also pay up to $600,000 annually in security cost. The rent on the facility will be $1.5 million (Mult.,11/22)
The sale of the Buccaneers has raised questions on theviability of Tampa Stadium. This week the Tampa SportsAuthority, the council that owns and manages Tampa Stadium,disclosed a $40M renovation plan in an effort to keep make theteam more attractive to local investors. Officials have alsobegun floating possible public funds for renovations. Today, THESPORTS BUSINESS DAILY looks at Tampa Stadium.
|STADIUM:||Tampa Stadium, Tampa, Florida|
|AGE:||Built in 1967|
|CAPACITY:||74,301 8th highest in the NFL.|
|OWNERSHIP:||Owned and managed by the Tampa Sports Authority.|
|LUXURY BOXES:||59 owned and operated by the team.|
|COST:||$4.1 million, paid for by bonds in 1966|
|RENOVATION:||$10 million renovation in '76, a $1.5M in '90.|
|CONCESSIONS:||Volume Service Catering 50% of sales goes the team during games, 27.5% for non-Buc events.|
|PARKING:||11,000 parking spots $5 a car. Team splits parking revenue with the Authority 50/50 for Buc events. For non-Buc events, team get 27.5%.|
|ADVERTISING:||The team pays a $50,000 annual fee for advertising rights. They receive all advertising revenue.|
|RENT:||$930,000 19th highest in the league. The team also pays a $300,000 annual skybox maintenance fee to the Tampa Sports Authority.|
|LEASE:||Expires in the 2000.|
(Source: Barbara Casey, Tampa Sports Authority; rent figure froma Florida Times-Union article on July 24, 1994).