Inglewood Scores Big with Legal Victory in Clippers Arena Lawsuit

A California judge handed the city of Inglewood a win by ruling against a group of local residents who sought to block the city from selling public land for a $1.2 billion arena for the NBA’s Los Angeles Clippers.

The city of Inglewood accepted $1.5 million for an exclusive negotiation agreement with Murphy’s Bowl LLC, the developer of the proposed arena. The arena is located at a site near Los Angeles International Airport and the land was acquired by the city so that residents would …

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Washington D.C. Arena Will Be America’s First Sports Venue with Sportsbook

Capital One Arena, the home of the Washington Wizards and Washington Capitals, is about to become the first major sports venue in the United States to have a sportsbook.

Monumental Sports & Entertainment, owner of the teams and the arena, announced a partnership with sports betting operator William Hill US. The sportsbook will span multiple floors and be accessible to both non-ticketholders and ticketholders for certain events. Expected to open in 2020, the sportsbook will be open year-round and is accessible to the public from …

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Detroit Red Wings to Build New Arena With $450 Million in Bonds

On Wednesday, September 17, the Michigan Strategic Fund board gave final approval for the sale of $450 million in 30 revenue bonds to help finance a new Detroit Red Wings Arena.

The financing plan includes $250 million in tax-exempt bonds and another $200 million in variable-rate taxable bonds backed by arena concessions fee payments.  Under the plan, Olympia Development, part of Ilitch Holdings (owners of the Detroit Red Wings), will pay 44% of the cost and the Detroit Downtown Development Authority (who would …

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