University of Oregon officials are adjusting budgets after the new Matthew Knight Arena has failed to meet revenue expectations across the board. Â While it’s normal to readjust budgets after a facility opens, the fact that revenues failed to reach expectations across the board is a vindication for arena foes, who claimed projections were rosy, […]
Archive | 2012
Detroit arena plan emerging: part of a larger mall complex?
With a ton of real-estate activity at the rumored site of a new Detroit Red Wings (NHL) arena, the talk is a new facility could be part of a larger mall complex. The area between Woodward Avenue and Cass near Temple, a blighted area, has emerged as a hot real-estate market in recent months, with […]
Sacramento arena plan: still a work in progress
A funding plan for a new Sacramento Kings (NBA) arena is still in negotiations, with Commissioner David Stern giving mixed signals about how much support he expects from the Kings. Really, there’s little new on the arena front since the last time we reported on the Sacramento arena situation: the city is still negotiating with […]
Hersheypark Arena to be renovated
Historic Hersheypark Arena, the former home of the Hershey Bears (AHL) originally built by chocolate magnate Milton Hershey, will undergo renovations this fall. The $2.1-million project will address basic infrastructure issues, such as a roof replacement. Opening in 1936, the former Hershey Sports Arena hosted Hershey Bears (AHL) games through 2002, when the team moved […]
Seattle arena plan to be unveiled today
A financial plan for a new Seattle arena — a core component in hopes of bringing the NBA back to the Emerald City — could be unveiled today by Mayor Mike McGinn. Hedge-fund manager Chris Hansen has been working with the city on a financial plan for a new arena in the Safeco Field area. […]
Naming-rights deal for New Orleans Arena draws criticism
The decision by the Louisiana Seafood Promotion and Marketing Board to purchase naming rights to New Orleans Arena is drawing criticism from state legislators. The arena is home to the New Orleans Hornets (NBA). The board is using money from a $30-million settlement account relating to the BP oil catastrophe in the Gulf of Mexico […]
How realistic is Sacramento arena plan?
As more details emerge about a proposed Sacramento arena plan, it appear the city may ask more of the NBA’s Kings and take some facility revenue streams. Is this realistic? Though the financial cornerstone of the $387-million (or $400 million, depending on who you ask) funding plan is the sale of future downtown parking revenues […]
Sacramento to discuss parking leases with 11 suitors
Sacramento will negotiate a potential lease of parking spaces with 11 suitors — with the proceeds being a cornerstone of a funding plan for a new Sacramento Kings (NBA) arena. The city is under the gun to show the NBA and the Kings a viable arena-financing plan before a March 1 deadline. A key part […]
SF Mayor: We’d love the Warriors — on their dime
San Francisco Mayor Ed Lee would welcome the Golden State Warriors (NBA) with open arms at a new arena in The City — provided the facility is privately financed. The team’s lease at Oracle Arena ends in 2017, and the team is looking at whether to move to another facility in the San Francisco area […]
Kings’ arena quest coming down to the wire
An attempt to keep the Sacramento Kings (NBA) in town is coming down to the wire, as a $400-million financing plan is due at the end of the month. Mayor Kevin Johnson has been leading the push for a funding plan, which is still not finalized. A key part of the plan calls for the […]
Bettman: No guarantees Coyotes will stay in Phoenix
While there’s interest among investors to buy the Phoenix Coyotes, NHL Commissioner Gary Bettman admits the team could be headed out of Glendale after the season unless a deal is struck. In his weekly radio show, Bettman reported there were three potential buyers of the Coyotes, owned by the NHL since 2009 after going through […]
Franke: Hockey needs to be more like baseball
With the CHL in rough shape and the Fort Wayne Komets looking to move to the ECHL, owner Michael Franke says more structure is needed in minor-league hockey — with the NHL’s involvement. His solution is simple: there needs to be a more organized structure to minor-league hockey, mimicking the tiered structure used in Minor […]