It seems that if the CBA agreement is not signed and all signs are pointing every which way today, the league won't allow teams to borrow the money needed for stadium construction. At $150 million a stadium, that's not chump change and could change the landscape (literally) of the league.
From Newsday:
If no extension is reached and the sides can't agree on a labor accord before this one runs out after the 2007 season, the G-3 program, which allows teams to borrow up to $150 million for stadium construction, would be eliminated until a new CBA is approved.
The Giants and Jets plan to ask the league for $300 million ($150 million per club) as part of a stadium package. They hope to build a stadium, estimated to cost more than $1 billion, near Giants Stadium.
Cowboys owner Jerry Jones also is looking to build a stadium in Fort Worth, and Vikings owner Zygi Wilf wants to build one outside Minneapolis. The Chiefs are trying to win funding for a major stadium upgrade, and the 49ers hope to eventually build a stadium to replace aging Monster Park.
The G-3 program is a joint venture of the owners and union, which wants to promote stadium construction because it adds revenue streams that eventually help increase player salaries. But if the union follows through on its threat to decertify if the CBA is not extended, the G-3 program will be eliminated.
2 comments:
Love you page, but I can't read it anymore with the buttons on the side.
I believe I was having trouble with one of the buttons and IE, but hopefully it's been fixed. I removed the button, plus a couple of others that were just taking up space. If you continue to notice the problem, please let me know.
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