Menu
Franchises

PATRIOTS/HARTFORD DEAL RIFE WITH CLAUSES FOR STATE TO MEET

          Though the signing of a relocation/stadium deal between
     CT Gov. John Rowland and Patriots Owner Robert Kraft was the
     "final paper step" to move the team to Hartford, "there
     remain many potential land mines that could blow the deal in
     the months to come," according to Ohlemacher, Puleo, Ubinas
     & Moreau of the HARTFORD COURANT.  The main "obstacle" in
     the deal is moving the CT Natural Gas Corp. steam plant and
     the first major deadline "outlined" in the agreement is
     April 2, when CT "must give the Patriots a status report on
     arrangements for getting the steam plant off the stadium
     site."  If the report contains "insufficient information,"
     the Patriots can "kill the agreement."  The state must also
     come up with a "definitive plan" by June 30 on how to move
     the steam plant and pay for the relocation process.  Another
     potential "stumbling block" is getting NFL owners' approval
     for the team's move to Hartford, as well as a possible
     relocation fee, which the agreement "assumes the league will
     not impose."  The Patriots will apply for approval from the
     owners at the league meetings in May and hope to obtain
     permission by October 31 (HARTFORD COURANT, 2/13).
          PROVISIONS: In Boston, Cosmo Macero reported that Kraft
     is prohibited from selling the team "until the stadium is
     ready or the deal collapses" or negotiating with other
     states for stadium deals "unless the pact with [CT] is
     terminated."  To protect CT from potential lawsuits, Kraft
     is "indemnifying" the state against damages from lawsuits
     over the Patriots' move, which could include possible legal
     action by MA AG Thomas Reilly (BOSTON HERALD, 2/13).  In
     N.Y., Mike Allen wrote the deal allows two years for stadium
     construction and "lets the team out of the deal" if the
     stadium is not ready by 2002.  The team will keep the right
     to sell naming rights and indoor advertising, but will give
     CT two indoor advertising panels for promoting tourism and
     economic development (N.Y. TIMES, 2/15). The deal also has
     an "incentive clause" that encourages Kraft to keep building
     costs of the stadium below $280M "with a promise of sharing
     in the leftover money" (BOSTON HERALD, 2/16).

SBJ Morning Buzzcast: April 24, 2024

Bears set to tell their story; WNBA teams seeing box-office surge; Orlando gets green light on $500M mixed-use plan

TNT’s Stan Van Gundy, ESPN’s Tim Reed, NBA Playoffs and NFL Draft

On this week’s pod, SBJ’s Austin Karp has two Big Get interviews. The first is with TNT’s Stan Van Gundy as he breaks down the NBA Playoffs from the booth. Later in the show, we hear from ESPN’s VP of Programming and Acquisitions Tim Reed as the NFL Draft gets set to kick off on Thursday night in Motown. SBJ’s Tom Friend also joins the show to share his insights into NBA viewership trends.

SBJ I Factor: Molly Mazzolini

SBJ I Factor features an interview with Molly Mazzolini. Elevate's Senior Operating Advisor – Design + Strategic Alliances chats with SBJ’s Ross Nethery about the power of taking chances. Mazzolini is a member of the SBJ Game Changers Class of 2016. She shares stories of her career including co-founding sports design consultancy Infinite Scale career journey and how a chance encounter while working at a stationery store launched her career in the sports industry. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/1999/02/16/Franchises/PATRIOTSHARTFORD-DEAL-RIFE-WITH-CLAUSES-FOR-STATE-TO-MEET.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/1999/02/16/Franchises/PATRIOTSHARTFORD-DEAL-RIFE-WITH-CLAUSES-FOR-STATE-TO-MEET.aspx

CLOSE