ASCENT SAYS PEPSI CENTER DEAL MUST HAPPEN TODAY
The city of Denver and Ascent Entertainment "are just
'inches away' from finalizing a deal" on the proposed Pepsi
Center, according to Kevin Flynn of the ROCKY MOUNTAIN NEWS.
Flynn: "Ascent wants something in writing today saying the
deal is imminent, and it appears the firm will get it"
(ROCKY MOUNTAIN NEWS, 10/29). Also in Denver, Stephen
Keating writes that, although "time is running out," both
sides said that a final pact "is close at hand." Still
being discussed is how much control the city will have over
the arena and the teams "if something goes wrong" over the
25-year life of the lease. Although Ascent Chair Charlie
Lyons is "measured and careful" on the record, Keating
writes that "[p]rivately, he is agitated." Lyons claims
that if the city does not respond positively by 5:00pm
today, the lack of a deal "will force" Ascent to "make good
on" a $140M loan from NationsBank. Keating: "Ascent said
that if it cannot tell NationsBank by Friday that the Pepsi
Center is a done deal, the company will be forced to
refinance or 'sell assets'" (DENVER POST, 10/29).