Group Created with Sketch.
Volume 24 No. 114

Facilities Venues

     Bengals President Mike Brown said yesterday the city has
"breached its 1993 agreement" and given the club the right to
terminate its stadium lease at the end of the year. Brown has
said the city failed to complete a $1.2M payment by a February 28
deadline.  Brown said the team had "carefully worded the
agreement (with the city) that we needed the money for accounting
and tax purposes.  (The city) just said details, details. ... The
stadium problems are very real and we're falling farther and
farther behind."  Hamilton County Commissioner Guy Guckenberger,
Co-Chair of the Regional Stadium Task Force, said the Task Force
"has to keep on moving and try to keep the Bengals and Reds
happy" (Geoff Hobson, CINCINNATI ENQUIRER, 3/13).  Brown was
asked if he would consider moving the team to Baltimore: "We're
aware there are alternatives.  Whether Baltimore would be one I
don't know.  Maybe it would."  Orioles Owner Peter Angelos, who
failed in his quest for the Bucs, said he would "be interested in
talking to him (Brown) whenever he is prepared to do so" (Vito
Stellino, Baltimore SUN, 3/13).

     The Minneapolis City Council finally approved a city buyout
of the Target Center on Friday.  A final concession by T-Wolves
buyer Glen Taylor was to agree to give the city one year's notice
of "any intent to invoke the escape clause if his taxes increase
by more than 2% a year." That will give the city two years,
instead of one, to try to find a local buyer for the team.  The
city will borrow up to $84.6M to buy the arena.  Taylor will pay
no rent for his team to play at the arena, but the city will be
repaid by money Taylor pays through property taxes on the
building.  The city will also pay current team owners Marv
Woflenson and Harvey Ratner $54.6M for the arena and assume some
$22M of their existing debt on the arena.  Taylor's purchase of
the team was contingent on public takeover of the facility
(Minneapolis STAR TRIBUNE, 3/13).