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Volume 24 No. 157

Facilities Venues

     The Minneapolis City Council has proposed a revised
financial plan to purchase the Target Center with taxpayer-backed
general obligation bonds for $40M.  Part of the deal requires T-
Wolves buyer Glen Taylor to pay an additional $14M to offset the
original asking price of $54M.  Taylor's agreement to pay Harvey
Ratner and Marv Wolfenson $88.5M for the team is hung up over
delays in the Target Center buyout (Diaz & Weiner, Minneapolis
STAR-TRIBUNE, 1/13).  Taylor had no response, other than to say:
"That would create other problems" (Patrick Sweeney, St. Paul
PIONEER-PRESS, 1/13).

     While the Redskins are still formerly pursuing a new stadium
in Anne Arundel County, MD, a WASHINGTON TIMES report claims that
DC officials are attempting to lure Redskins Owner Jack Kent
Cooke to stay in Washington.  The DC deal, as outlined in the
TIMES: DC will help pay to tear down RFK stadium; Cooke will pay
to build a new stadium at the site; the Skins will play games at
the Univ. of MD's Byrd Stadium in the interim.  Officials
representing Cooke denied the deal, stating the chances for such
a deal as "absolutely nil."  DC Mayor Marion Barry would not
discuss the deal (Adrianne Flynn, WASHINGTON TIMES, 1/14).

     WI Gov. Tommy Thompson has lent his support to a plan that
would create a state sports lottery as a source to help finance a
new stadium for the Brewers.  The Milwaukee Stadium Commission is
"certain" to recommend the sports lottery as one source of
revenue, says commission chairman Robert Kahlor.  Pending
approval by the state legislature, the lottery proposal could go
before state voters as early as April.  Under the plan, public
funds would account for "roughly" $180M of the $223.5M project.
The Brewers would be responsible for the remaining costs.  Other
sources of revenue previously suggested by the commission include
taxes on goods sold at the stadium, Indian gaming and restaurants
(Gilbert & Schultze, MILWAUKEE JOURNAL, 1/13).
     DETAILS:  The current stadium plan is "significantly
different" from a 1989 plan in which the team was going to
privately finance a $120M ballpark.  The new stadium would seat
42,637, have 75 private suites, 3,000 club seats, restaurants,
banquet facilities and a hall of fame.  The team pledged $10-$15M
up front along with $2-3M a year in rent for 20 years.  Brewers
Owner Bud Selig says the new plan is consistent with other
communities that have publicly financed parks: "Baseball
economies changed late in 1991 and early 1992, so when we started
back in 1987, it has almost no relevance to the economics we're
in today" (Daniel Hanley, MILWAUKEE JOURNAL, 1/13).