BobFinn*
10-25-2003, 06:22 PM
Houston owners: Stadiums are $1 billion well-spent
MARK BABINECK
Associated Press
HOUSTON - They've built personal wealth in the billions and helped persuade Houston-area taxpayers to chip in nearly $1 billion more to build three state-of-the-art buildings for their professional sports franchises.
In a rare forum Thursday, the owners of the Texans, Astros and Rockets agreed that the money they've put up - plus the approximately $980 million in bonds that taxpayers will pay down over three decades - was well worth it for them and the nation's fourth-largest city.
"I've had owners who tell me, 'We wish we had the same support you have in Houston,'" Astros owner Drayton McLane Jr. said to the city's power set at the forum during a chamber of commerce meeting at hotel ballroom.
"You've given us all the opportunity," he said, referring to city leaders' support in getting voters to barely pass two referendums that authorized bond sales to support the venues.
McLane also joked that the Astros' 4-year-old Minute Maid Park, formerly Enron Field, is the old sports facility in town. The Texans' Reliant Stadium is 1 year old, and the Rockets' Toyota Center is brand-new.
All three owners agreed that the revenue opportunities in the new buildings, especially a dramatic increase of potentially lucrative luxury boxes compared to the Astrodome and Compaq Center, give teams a chance to be competitive.
Though the teams compete for season-ticket dollars and sponsorships, Texans owner Bob McNair said there's a level of synergy among them.
"My attitude is that Houston is a sports community, and that includes all sports, including hunting and fishing," McNair said. "If the Rockets or Astros win, that works for us because it makes people view sports in a positive way."
So far the expenditures haven't paid off on the scoreboard.
The Astros have made the playoffs once in four years downtown and hold the unfortunate distinction of having baseball's third-longest World Series drought, behind the Chicago Cubs and Texas Rangers. The Texans finished 4-12 in their expansion season last year and are 2-4 this season.
But the new stadiums have led directly to the Super Bowl and baseball All-Star Game coming to Houston in 2004, the Final Four in 2011 and Houston joining the rotation for Big 12 Conference football championships. This week, NBA commissioner David Stern promised a basketball All-Star Game at some point.
"I think once we have beaten him down and he's seen how wonderful (Toyota Center) is, I think we'll have one shortly," Rockets owner Les Alexander said.
The owners expounded on various topics for a half-hour but clammed up when asked what they will tell whoever wins the mayor's race this fall. Except for Alexander.
"Fix the streets," he said to rousing applause. Road work has stifled downtown and other areas in the city in recent years.
Then the owners and dignitaries piled into cars and joined a construction-inspired traffic jam in progress.
MARK BABINECK
Associated Press
HOUSTON - They've built personal wealth in the billions and helped persuade Houston-area taxpayers to chip in nearly $1 billion more to build three state-of-the-art buildings for their professional sports franchises.
In a rare forum Thursday, the owners of the Texans, Astros and Rockets agreed that the money they've put up - plus the approximately $980 million in bonds that taxpayers will pay down over three decades - was well worth it for them and the nation's fourth-largest city.
"I've had owners who tell me, 'We wish we had the same support you have in Houston,'" Astros owner Drayton McLane Jr. said to the city's power set at the forum during a chamber of commerce meeting at hotel ballroom.
"You've given us all the opportunity," he said, referring to city leaders' support in getting voters to barely pass two referendums that authorized bond sales to support the venues.
McLane also joked that the Astros' 4-year-old Minute Maid Park, formerly Enron Field, is the old sports facility in town. The Texans' Reliant Stadium is 1 year old, and the Rockets' Toyota Center is brand-new.
All three owners agreed that the revenue opportunities in the new buildings, especially a dramatic increase of potentially lucrative luxury boxes compared to the Astrodome and Compaq Center, give teams a chance to be competitive.
Though the teams compete for season-ticket dollars and sponsorships, Texans owner Bob McNair said there's a level of synergy among them.
"My attitude is that Houston is a sports community, and that includes all sports, including hunting and fishing," McNair said. "If the Rockets or Astros win, that works for us because it makes people view sports in a positive way."
So far the expenditures haven't paid off on the scoreboard.
The Astros have made the playoffs once in four years downtown and hold the unfortunate distinction of having baseball's third-longest World Series drought, behind the Chicago Cubs and Texas Rangers. The Texans finished 4-12 in their expansion season last year and are 2-4 this season.
But the new stadiums have led directly to the Super Bowl and baseball All-Star Game coming to Houston in 2004, the Final Four in 2011 and Houston joining the rotation for Big 12 Conference football championships. This week, NBA commissioner David Stern promised a basketball All-Star Game at some point.
"I think once we have beaten him down and he's seen how wonderful (Toyota Center) is, I think we'll have one shortly," Rockets owner Les Alexander said.
The owners expounded on various topics for a half-hour but clammed up when asked what they will tell whoever wins the mayor's race this fall. Except for Alexander.
"Fix the streets," he said to rousing applause. Road work has stifled downtown and other areas in the city in recent years.
Then the owners and dignitaries piled into cars and joined a construction-inspired traffic jam in progress.