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June 25, 2005
Stadium probably would add value to Twins franchise
A recent story in the Star Tribune (Sunday, June 19 2005) gave an insight into another business deal in the works by Carl Pohlad. He if you didn't know it, is a billionaire who currently owns the Minnesota Twins. Being the nice guy that Carl is, he is willing to put up $125 million dollars of his own money to finance a new stadium for the Twins. However much of this money would be offset by the revenue that would be generated through the naming rights to the stadium. This income could range possibly range from 50-100million dollars. Along with this would come the added value of the twins from having a new stadium built. The twins are currently worth approximately $178 million dollars and this could increase easily by 25%-50% with the addition of a new stadium. Sounds like a win win for Carl. The teams worth more, new stadium, higher revenue.
The question that still needs answering
Where does the other $353 million come from.
Well I think most of us can come up with an answer.
Comments
$125 million of your own money. Can you imagine having so much money that $125 million is some of it? Wow.
Posted by: Clancy at June 25, 2005 3:57 PM
I just think it's crazy that the Twins, Vikings and Gophers all need new stadiums. Is it really necessary or do they just want more??? Is it a need or a want???
Posted by: Dianna at June 28, 2005 3:36 PM
Carl Pohlad should finance the stadium with his own money -- between his personal wealth, he could use portions, read only 'part', of his revenues generated by the many, many companies he has ownership and stockholder shares. If he doesn't want to do this, sell the team to someone or a group of investors who would be willing to do so.
Posted by: Debbie at June 28, 2005 7:41 PM