By Rick Horrow and Karla Swatek
May 14, 2012
“Bust”: Top Five Reasons the Armageddon is Near
1. The Arizona Cardinals and University of Phoenix Stadium are suing the city of Glendale for $67 million over lost parking garage revenue. The city in February demolished parking garages near the stadium in order to build a 38-acre shopping mall.
2. The Boston Red Sox are refuting a Boston Globe story that questions the validity of the team’s long-running sellout streak. According to the story, the Red Sox routinely sell or giveaway tickets well after games start. The team says its sellouts are calculated by MLB standards.
3. The annual college basketball game between Indiana and Kentucky, which dates back to 1969, is over for the foreseeable future because the two schools couldn’t agree on where to play games. Indiana wanted to continue alternating home games, while Kentucky wanted the games to be at a neutral site.
4. The city of Sacramento has spent $680,000 since September in its failed effort to build the Kings a new downtown basketball arena. With the financing deal in jeopardy, the city council last week formally stopped funding predevelopment work on the project.
5. A Churchill Downs track worker was found murdered in a horse stable hours after last weekend’s Kentucky Derby. About 200 people live at Churchill Downs at any given time, either in dorms on the property or in small apartments above the barns.
“Boom”: Top Five Reasons that Prosperity is Right Around the Corner
1. Big 12 presidents verbally agreed to a new lucrative TV deal with ESPN and Fox. The 13-year deals are worth a combined $2.6 billion, which works out to an average of $200 million per year and $20 million per school. The deal is on par with TV deals in the SEC, Pac-12, and Big Ten.
2. This year’s Kentucky Derby set new betting and attendance records at Churchill Downs. All-sources wagering for the race topped $133 million, an 18.8% increase over last year’s take, and 12% greater than the previous record. The Derby’s attendance was a record 165,307.
3. New Los Angeles Dodgers owner Guggenheim Baseball Management will pay $14 million a year to rent Dodger Stadium parking lots from an entity half-owned by Frank McCourt. Land surrounding the stadium and parking lots could be used to build restaurants, shops, homes, offices, and another sports facility.
4. Milwaukee Bucks owner Herb Kohl wants to build a new arena and said he’s willing to make a substantial personal financial investment to the project. The team is looking into options to replace the 24-year-old Bradley Center, but no specific sites have been identified.
5. Reebok resigned long-time endorsers Peyton and Eli Manning, and the brothers will star in the company’s back-to-school campaign for the its new Zig technology. Resigning the star quarterbacks indicates that Reebok will continue to activate around the NFL despite losing the league’s apparel contract to Nike.
“Hope”: Top Five Reasons That Creativity is the Key to Economic Survival
1. Microsoft’s Windows Phone sponsored horse Hansen during last weekend’s Derby. Per the deal, the Windows Phone logo was placed on jockey Ramon Dominguez’ pants. A Twitter contest also was created to giveaway two white Windows Phones in honor of the white horse.
2. The Washington Nationals’ “Take Back the Park” ticket campaign led to the team selling more than 100,000 tickets to last weekend’s matchup against the Philadelphia Phillies. Earlier this year, the Nationals held a presale for the series, only selling tickets to DC-area fans so Phillies fans couldn’t attend.
3. The University of Missouri is rolling out a $400,000 ad campaign to celebrate the school’s move to the Southeastern Conference. The school placed 16 billboards throughout the SEC’s geographic footprint of Georgia, Florida, Tennessee, Alabama and Texas.
4. Up to 150 NFL players this season are planning to wear Xenith brand helmets, which has special shock-absorber technology to reduce head injuries, according to Daniel Kaplan of SportsBusiness Journal. Xenith this year expects to sell 100,000 helmets, up from 24,000 helmets in 2010.
5. Minnesota Timberwolves owner Glen Taylor is looking for a minority partner that would eventually buy him out. The 71-year-old Taylor has owned the team since 1994. His biggest priority is finding someone committed to keeping the team in Minnesota.