BIDS FOR CHARLOTTE COLISEUM CONTINUE TO COME IN
Houston-based PFA Acquisition and Development Co. is the
latest company to join the list of "would-be" buyers for the
Charlotte Coliseum, according to this morning's CHARLOTTE
OBSERVER. The company has "lined up" a brokerage firm, an
entertainment management company and a law firm to fashion a
public-private partnership with the city to own the Coliseum.
PFA also wants to bring a NHL team to the city. However, Mayor
Richard Vinroot says that it's "premature" to entertain other
offers for the Coliseum until negotiations with the Hornets are
concluded. Talks between the Hornets and the city continue this
week and "are focusing on restructuring the Hornets lease."
Vinroot said yesterday that he has received two letters from
potential buyers other than the Hornets, one of which is
reportedly worth around $80M. The Hornets "peg the Coliseum's
worth" at $60-65M, "which the city deems too low." PFA
reportedly will wait to see the city's and team's revenue figures
before suggesting a price (CHARLOTTE OBSERVER, 2/21).