- 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.
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:
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?
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.
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