Facilities Venues

SIX PACK: BRONCOS CORRAL $150M LOAN TO HELP BUILD STADIUM

8.16.1999

          N.Y.-based Sumitomo Bank and five other banks are
     "financing" the Broncos' new 76,000-seat stadium with a
     $150M loan, according to Guy Kelly of the ROCKY MOUNTAIN
     NEWS.  Sumitomo is "joined" by USBank, Bank One, Key Bank,
     Fleet National Bank and Chevy Chase Bank.  Sumitomo Senior
     VP James Weinstein said that the bank was "impressed" by the
     Broncos management and the community's "commitment to the
     project."  Kelly added that the Metropolitan Football
     Stadium District has "issued about" $244M in bonds to "fund
     the public's share" of the stadium cost (ROCKY MOUNTAIN
     NEWS, 8/14).  In Denver, Emily Narvaes reported that the
     team "immediately withdrew" $107M of the $150M loan. 
     Weinstein said that the "remaining" $43M "will be used to
     pay interest and contingencies" (DENVER POST, 8/13).

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