On Apr 26, 2005, at 8:49 AM, Craig Miller wrote:
1. Who will own the stadium?
The county, sort of. The deal points say the stadium will be "publicly owned."
2. Who will name the stadium?
Carl.
3. Who gets the cash for all exclusive rights such as signs, beer pouring etc.?
Carl. Twins operate it, get all revenues, pay all operating expenses. They are also responsible all stadium cost overruns, BTW.
4. How much is the check that actually comes out of a Marquette Bank Account under the name of Carl Pohlad payable to Hennepin County?
Unclear. The deal points say Carl must contribute $40 right away (presumably after the bill passes and the deal is signed), with $85 million"paid prior to completion." Don't know if the dough is funneled through the county or they split expenses somehow?
5. How much money is going back to Mr. Pohland?
Basically, all operating profits (remember, Twins pay operating expenses and receive operating revenues) plus franchise appreciation if they sell. The county gets up to 18 percent of the franchise sale price if the Pohlads sell before 2016.
By the way, the deal points distributed yesterday add that the county will pay $1.4 million, escalating annually, to fund future capital improvements, with the Twins paying $600,000.
Also, the deal points say "provides for affordable tickets" but doesn't specify the price or quantity.
David Brauer Kingfield
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