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Lip Man 1
02-16-2003, 01:28 PM
In Sunday's Steve Rosenbloom column in the Tribune, he speaks with a financial person about the proposed new renovations at Comiskey Park.

According to the story unless Reinsdorf can pull off a financial manuever, he may NOT be able to get the money needed UP FRONT, to finance those discussed renovations to the upper deck etc.

As some fans on WSI pointed out, getting 3.8 million a year from U.S. Cellular will not be able to finance the job. Reinsdorf has got to get a boat load of cash in the immediate future to be able to start the ball rolling and Rosenbloom's "expert" apparently sees some potential problems to that happening.

Hmmmm...wouldn't that be a public relations disaster!

I recommend reading the story (and sorry I do not know how to post the link...)

Lip

doctor30th
02-16-2003, 03:03 PM
Does anyone have an article with the financial details of the Deal for the naming rights.

I swear when it first came out I though I read something that said the sox were getting like 20 million the first year, then like 2 million every year after that.

Daver
02-16-2003, 03:04 PM
Here is a link to the article. (http://chicagosports.chicagotribune.com/sports/columnists/cs-0302160222feb16,1,1594674.column?coll=cs%2Dcolumni sts)

doctor30th
02-16-2003, 03:06 PM
yeah I read that article, I was refering to one when the deal was first done that said what the financial details were. Sorry I didn't clearify.

LuvSox
02-16-2003, 04:38 PM
Originally posted by doctor30th
yeah I read that article, I was refering to one when the deal was first done that said what the financial details were. Sorry I didn't clearify. I've seen that one too, it may have been here. It was a large amount up front.

Juan Pizarro
02-16-2003, 06:28 PM
If they want to, they should be able to get bonds pretty easily.
For how much is the question, and that's why the stadium authority seekiing them should help.

hold2dibber
02-17-2003, 10:11 AM
Originally posted by Juan Pizarro
If they want to, they should be able to get bonds pretty easily.
For how much is the question, and that's why the stadium authority seekiing them should help.

An article in Crain's last week suggested that the authority won't be issuing the bonds, which is the problem. Without the authority backing/issuing the bonds, the Sox will be unlikely to be able to generate sufficient funds from the bond float to pay for all of the renovations they're hoping for.

Mammoo
02-17-2003, 12:01 PM
Given the Chairman's history, I'm not the least bit worried about that money being maximized.

http://www.dickiethon.com/~rhoma/cws_2002/sox06.jpg

dllrbll7
02-17-2003, 01:12 PM
They will figure out how to pay for it one way or another and they probably already know. I do remember reading that about a third of the money was over the next two years or something.

Lip Man 1
02-17-2003, 01:43 PM
That's part of the problem. I and others recall reading the same thing, that U.S. Cellular would be making an "up front" payment of like 30 million dollars in the first two years.

However since then, I've seen nothing to indicate that that would be happening. Why would Rosenbloom have this talk with the financial expert if the up front payment was going to take place?

Lip

Randar68
02-17-2003, 01:48 PM
Originally posted by Lip Man 1
However since then, I've seen nothing to indicate that that would be happening. Why would Rosenbloom have this talk with the financial expert if the up front payment was going to take place?


I don't know, but who does he work for again? Wouldn't be his or others' first article with an ulterior motive...

Anyone call the Sox PR office?