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Va. Beach Mayor Outlines Proposed $300M Arena Deal To Lure Pro Sports Team

Virginia Beach Mayor Will Sessoms yesterday "offered the first glimpse into how a deal to build an 18,500-seat arena and bring a professional sports team to the city might be structured," laying out what the city, the state of Virginia and a private company "would bring to the table to build the arena now estimated to cost $300 million," according to Aaron Applegate of the Norfolk VIRGINIAN-PILOT. The city of Virginia Beach would "contribute $195 million," while the state "will be asked for $150 million, of which $70 million would be for the arena." Comcast-Spectacor, the company that would "lease and operate the arena and is working to recruit the pro sports team, would put in $35 million." Sessoms "declined to name the sports team targeted as the arena’s anchor tenant, but sources have said since August that it’s the NBA’s Sacramento Kings." Kings VP/Media Relations Troy Hanson yesterday said, “We’re not going to comment on relocation rumors.” Sessoms "put the odds of the deal coming together at 50-50." He said, “We have a long way to go. In no way do I want people to think we have a done deal.” City council member John Moss called a $35M contribution from Comcast-Spectacor “way too low.” Moss: “If they have such faith in the forecasts, they should be putting up more." But council member Glenn Davis said, "With all the other events this could attract, I think it’s exciting. The more that comes out, the more lucrative it sounds for the city and citizens" (Norfolk VIRGINIAN-PILOT, 11/28).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

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