"Hoping to end two years of negotiations" over a
proposed downtown Houston arena, owners of the IHL Aeros
signed a letter of agreement with Mayor Bob Lanier
yesterday, according to Williams & Hohlfeld of the HOUSTON
CHRONICLE. If Rockets Owner Les Alexander does not sign the
letter by April 18, the Aeros will get exclusive negotiating
rights for the building. The two teams are "stalemated"
over revenue and management control of the proposed
facility. Lanier offered the two sides four conditions: The
arena will be city-owned; an independent contractor will
operate the facility; terms of any agreement "shall not
advance the interests of one part over another;" a long-term
assurance that the city will have pro basketball and hockey.
(HOUSTON CHRONICLE, 4/10). Even though financing has not
been lined up for the new arena, local companies "are
already considering paying big bucks" for naming rights.
Compaq Computer Corp. has already had "preliminary
discussions" with the city and Continental Airlines, Enron
Corp. and others "foresee possibly bidding" for naming
rights (Williams & Silverman, HOUSTON CHRONICLE, 4/10).
