Group Created with Sketch.
Volume 24 No. 117

Facilities Venues

     Laurel Prieb, Brewers VP/Corporate Affairs, said yesterday
the team does not need new investors and will be able to meet
their financing commitment to a new stadium by the March 22
deadline, according to this morning's MILWAUKEE JOURNAL SENTINEL.
Local sources said "several potential investors" are ready to
bring new capital to the team to secure loans needed for the $90M
financial commitment to a new facility.  But new investors would
reportedly "demand major changes in the team's management
structure."  Prieb: "We didn't need them last summer [when the
stadium deal was signed] ... And we don't need them now.  If
anything, our finances have improved."  Sources said Brewers
President Bud Selig "would be especially resistant" to the idea
of new investors if they "were contingent on his stepping down as
President."  Spokespersons for Sidney and Allen Kohl, brothers of
U.S. Sen./Bucks Owner Herb Kohl, said there is "no truth to the
reports they are considering investing in the Brewers."  Also, a
meeting between the team and Miller Brewing apparently has been
set up to discuss stadium naming rights (Amy Rinard, MILWAUKEE
JOURNAL SENTINEL, 2/29).

     Backers of the ballot initiatives to build a new Tiger
Stadium in Detroit are raising $600,000 to use on TV, direct
mail, radio, cable and print media ads in an effort to clarify
the language of the measure.  Robert Sherefkin reports in CRAIN'S
DETROIT BUSINESS that the two competing stadium proposals placed
before voters March 19 will need examination by voters.  While a
yes vote on Proposal A opposes spending city money for a new
stadium, a yes on Proposal B supports the stadium.  Only Proposal
A is binding.  Donors to the effort include GM, Detroit Edison,
and Comerica Bank (CRAIN'S DETROIT BUSINESS, 2/26 issue).

     Ascent Entertainment Group, which owns the Avalanche, has
bought new dasher boards and glass it hopes to install before the
playoffs (Colorado Springs GAZETTE TELEGRAPH, 2/28)....The White
Sox "might step up" a proposed move to Tucson from Sarasota and
share a facility with the Rockies next year.  The "deal is
pending" on whether the White Sox will become the third team in
Tucson in '98 with the Rockies and D'backs (ARIZONA DAILY STAR,
2/29)...Two efforts were rejected in the MD legislature to charge
Art Modell interest on a 10-year, $24M state loan he's been given
to help fund a new stadium (WASHINGTON TIMES, 2/29)....IL Gov.
Jim Edgar's plan to finance a $465M McDome in Chicago calls for
an airport tax recently outlawed by the Federal Government.  A
Cook County judge will hear a suit challenging the tax, which
would provide 11% of McDome funding (CHICAGO SUN-TIMES,
2/29)....Commenting on the Giants' drive for a new stadium, Glenn
Dickey writes that "no teams have tried to privately finance
stadiums because it's risky.  Financiers question whether the
Giants can do it, and baseball people question whether the team
will have enough money left to go after quality players" (S.F.
CHRONICLE, 2/29).

     Walt Disney Co. is reportedly prepared to spend close to
$70M to renovate Anaheim Stadium "if it can finalize a deal with
the city of Anaheim to fund the remaining" $30M, according to
Fisher & Himmelberg of the ORANGE COUNTY REGISTER.  The Anaheim
City Council meets today in a special session to discuss "and
possibly vote" on the proposal -- the "final step" in Disney's
purchase of a controlling share of the Angels.  Derek Irwin, AL
Financial Manager, said $70M would be the "most significant
contribution by an American League baseball team owner toward a
stadium project in the last five years" (ORANGE COUNTY REGISTER,
2/28).