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08 December 2008

Fremont sessions (yes, plural) and other news

While I was away prepping the Turkey Day feast, I had received an e-mail from the City of Fremont, advising me a City Council work session for the baseball village scheduled for this Tuesday, December 9. This is not a rescheduling of tonight's "open house" type event, it's an additional session to occur prior to the Council's normally scheduled meeting. So here's the complete schedule to avoid any confusion:
  • Monday, December 8 - General Public Scoping Meeting on the Notice of Preparation for the EIR, 6:30-8:00 p.m. @ Fremont City Hall Council Chambers.
  • Tuesday, December 9 - City Council Work Session for Ballpark Village Project, 6:00-7:00 p.m. @ Fremont City Hall Council Chambers.
Fremont City Hall is located at 3300 Capitol Ave.
The Giants and developer Kenwood Investments received an extended deadline, January 15, to present their vision of a retail/entertainment complex across McCovey Cove from AT&T Park.
The Sharks acquired a 10-15% stake in the Earthquakes from the A's for up to $3 million. That's a pretty low figure compared to the reported franchise fee of $20 million (Correction, $3 million is a correct amount. I edited out a reference to the new asking price for an MLS expansion franchise, reportedly $40 million). Franchise values for teams outside of the NFL and MLB could take a hit in the near term, even small market NBA and NHL teams.

For SVS+E, the Sharks-related company that manages HP Pavilion, ice rinks in San Jose and Fremont (very close to the Warm Springs BART station site), and the San Jose Civic Auditorium, it's a chance to seal up the large events market in the South Bay. They'll manage the new stadium, which may or may not have a stage to accommodate large concerts. Only Shoreline Amphitheatre, which is run by events giant Live Nation, qualifies as local competition.

The agreement appears to be a few steps removed from having SVS+E operate Cisco Field. Given that many of the business-side and money people from both the A's and Sharks tend to rub elbows a lot, such an arrangement is a near formality. But where will that stadium be located?
Despite the recession, the Yankees are positioned to bring in an extra $200 million a year in revenue because of the new Yankee Stadium. Perhaps pinstripes will have a slimming effect on Vallejo native C.C. Sabathia.

2 comments:

Dan said...

How is 3 million dollars as 10-15% of the Earthquakes low? If the franchise fee was 20 million isn't 10% of that... $2 million and 15%, $3 million?

Marine Layer said...

You're right Dan, I originally wrote the post comparing the share to what MLS is asking for a new franchise fee - around $40 million. Will correct shortly.