"Marking a profound shift in talks," Oakland and Warriors
negotiators discussed gutting and renovating the Coliseum Arena
instead of building a new facility, according to Li and Salladay
of the OAKLAND TRIBUNE. Both sides agreed a renovated arena
would bring the team a modern
facility faster than construction of a new complex. The plans
call for 20,700 seats, at least 80 luxury suites, and 3,000
amenity-filled club seats (OAKLAND TRIBUNE, 10/27). Tim Preece,
lead negotiator for the Coliseum, said "this is our solution,
unless San Jose comes up with some new ideas." Preece did not
reveal how much a reconstructed arena would cost, but added "the
Warriors would not be involved in financing." Warriors General
Counsel Robin Baggett called the idea "intriguing," as he arrived
in San Jose to meet with arena officials who are trying to lure
the team with a ten-year offer to share San Jose Arena with the
Sharks. The interior of the Coliseum Arena would be gutted
beginning in the spring of '97 and completed by fall of '98. The
team would play at an undetermined location in the interim season
(Ostrom & Akizuki, SAN JOSE MERCURY NEWS, 10/27).
TAXPAYERS ON HOOK FOR A'S ATTENDANCE? A's ownership will
receive a $2.5M loan "they never have to repay if ticket sales
remain low, under a lease signed" this week, according to Robert
Salladay of the OAKLAND TRIBUNE. The "little-known" section of
the team's nine-year lease gives them a $2.5M loan at 7%
interest, "which only has to be repaid if the team attracts more"
than 1.7 million fans in the '97 season and more than 2 million
fans by 2000 and beyond. Some city politicians are "worried
about the loan," especially since the team has attracted only 1.2
million fans during each of the last two seasons. The loan is
just "one of many concessions handed to the A's owners," which
includes cash payments of $11M to "compensate for construction
problems, allows the team to leave after only three years and
guarantees the team a certain amount of advertising revenue"
(OAKLAND TRIBUNE, 10/27).
