CASHING IN ON L.A.; STAPLES WILL PAY $100 MILLION FOR RIGHTS TO NAME NEW SPORTS ARENA; DISNEY CO. OFFERS $25 MILLION MATCHING GRANT TO BUILD CONCERT HALL.Byline: Rick Orlov and Reed Johnson Reed Cameron Johnson (born December 8, 1976 in Riverside, California) is an outfielder for the Toronto Blue Jays of the American League East division of Major League Baseball. He weighs 180 lb (82 kg) and is 5'10" tall. Daily News Staff Writers Corporate America agreed Monday to ante up $125 million to help bring culture and professional sports The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to downtown Los Angeles Downtown Los Angeles is the central business district of Los Angeles, California, located close to the geographic center of the metropolitan area. The sprawling, multi-centered megacity is such that its downtown core is often considered just another district like Hollywood or , a move boosters say will solidify the city's position as a tourist mecca. Consider: The Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. agreed to provide a $25 million ``challenge gift'' toward construction of the new Disney Concert Hall, the single-largest donation since the initial $50 million bequest in 1987 by Lillian Disney Lillian Marie Bounds (b. February 15 1900, Spalding, Idaho – d. December 16 1997, Los Angeles, California, aged 97) was the wife of Walt Disney from 1925 until his death in 1966. She later married John L. Truyens in 1969 and remained married to him until his death in 1981. , Walt's widow. Staples Inc. has agreed to pay $100 million to have the downtown sports arena named Staples Center This article has multiple issues: * Its neutrality is disputed. * It may contain original research or unverifiable claims. * It does not cite any references or sources. , $40 million more than has ever been paid for so-called naming rights Naming rights are the right to name a piece of property, either tangible property or an event, usually granted in exchange for financial considerations. Institutions like schools, places of worship and hospitals have a tradition of granting donors the right to name facilities in . Take into account the planned opening of the $1 billion J. Paul Getty Jean Paul Getty (December 15, 1892 – June 6, 1976) was an American industrialist and founder of the Getty Oil Company. Biography Born in Minneapolis, Minnesota, into a family already in the petroleum business, he was one of the first people in the world with a Center on the Sepulveda Pass Sepulveda Pass (el. 1130 ft. / 334 m.) is a mountain pass through the Santa Monica Mountains in Los Angeles, California. It is often called Poop-Out Pass, a phrase once used by now-deceased traffic reporter Bill Keene. this month and you have what some say is unmistakable proof L.A. is fast becoming a sports and cultural center. ``What this says is, it's show time, baby,'' said Jack Kyser, chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the of the Economic Development Corp. ``With all that is coming in, we will get more business at the Convention Center. This is good news for downtown and good news for all of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . This will impact everybody.'' In addition to the corporate investment, Kyser said it will help further define Los Angeles for its buildings. ``The Disney Hall certainly will be a landmark building as will the sports arena,'' Kyser said. ``Add that to the Bonaventure and others, and the city takes on a new distinctive look.'' A spokeswoman for Mayor Richard Riordan Richard J. Riordan (born May 1, 1930) is a Republican politician from California, U.S. who served as the California Secretary of Education from 2003–2005 and as Mayor of Los Angeles from 1993–2001. Riordan ran for Governor of California unsuccessfully in 2002. also hailed the investments. ``Dec. 1 is a big day for Los Angeles,'' Noelia Rodriguez said. ``This is good news for the arena and terrific news for the Disney Hall. It says that Los Angeles is the city of the future.'' Conspicuously absent from the troika of business, arts and political leaders backing the Disney Concert Hall has been the Walt Disney Co. That changed Monday when in a well-staged display of corporate muscle, Disney CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Michael Eisner Michael Dammann Eisner (born March 7, 1942) was CEO of The Walt Disney Company from September 22, 1984 to September 30, 2005. Early life Michael Eisner was born to a wealthy family in Mt. Kisco, New York, and raised on Park Avenue in Manhattan. announced the ``challenge gift,'' which must be met in five years. Two members of the Disney family The family of Elias Disney (son of Kepple Disney and Mary Richardson):
Under the terms of the gift, a permanent space in the new concert hall will be designated for the primary use of the Valencia-based California Institute of the Arts California Institute of the Arts known as CalArts U.S. private institution of higher learning in Valencia. Created in 1961 through the merger of two other art institutes, it was the first in the U.S. , which Walt Disney founded in 1961. Endowment Of the gift, $5 million will be used to create an endowment for CalArts, with the earnings used exclusively by CalArts to produce and perform programming in what will be known as the Roy O. and Edna F. Disney CalArts Theatre and at other Music Center venues. Roy O. and Edna were the parents of Roy E. Disney, vice chairman of the Disney Co. In announcing the Disney company's gift at the Dorothy Chandler Pavilion The Dorothy Chandler Pavilion is one of the halls in the Los Angeles Music Center (which is one of the three largest performing arts centers in the United States). The Music Center's other halls include the Mark Taper Forum, Ahmanson Theatre, and Walt Disney Concert Hall. , Eisner insisted there had been no backstage conflict over whether the company should support the project honoring its famous founder. Previously, Disney officials had responded with a terse ``no comment'' to questions. Because of the company's well-known obsession with secrecy, it was difficult to determine what proportion of Disney's decision had to do with civic duty and political pressure, and what proportion with its long-held desire to form a working partnership between CalArts and the Music Center of Los Angeles County, where the Los Angeles Philharmonic The Los Angeles Philharmonic (LAP) is an American orchestra based in Los Angeles, California, United States. History Founded in 1919 by William Andrews Clark, Jr. performs its winter subscription season. On Monday, Eisner said simply that the deal had come together ``in a kind of Disney-esque happy ending.'' ``There's not been any conflict at all,'' Eisner said. ``It just always was known there would be an appropriate time to make the announcement that we've made.'' Still, the gift hardly could have come at a better time for the concert hall project, or for its sometimes embattled architect, Frank O. Gehry. Completion cost SunAmerica chairman Eli Broad Eli Broad (born June 6, 1933) a native of Detroit, Michigan is a Jewish American billionaire who lives in Los Angeles, California. His last name is pronounced as rhyming with road. Broad is well known for his philanthropy and extensive art collection. , who in recent months has become the concert hall project's fund-raising point man, has said that the hall can be completed for about $220 million. Monday's gifts bring the total committed to the project to $160.38 million, Broad said. Although the fund-raising committee recently retained Gehry's Santa Monica-based firm to complete the final architectural drawings for the project, Gehry has been concerned that cost-cutting efforts could undermine his design concept. Eisner praised the architect's design for the undulating Team Disney building in Anaheim and said Gehry should have the chance to finish the concert hall. ``I was getting kind of tired of seeing him (Gehry) knocked on this project,'' Eisner said. For Gehry, it was good news to have Eisner and Disney aboard. ``Michael Eisner is for me a lucky charm and I think he will bring a lot of luck to this project,'' Gehry said. The arena-Staples announcement came in the North Hall of the Convention Center, the warehouse-like building that will be torn down to make way for the 20,000-seat facility, which will host Los Angeles Lakers and Kings games as well as other events beginning in 1999. Risk should pay off Tom Stemberg, chairman and chief executive officer of the Massachusetts-based firm with 80 stores in Southern California, said he believes the risk will pay off for the company. ``It's a very important investment for us,'' Stemberg said. ``The Lakers and the Kings are two of the great franchises in professional sports with great futures ahead of them. ``To be part of all that, to make the kind of impact on the Southern California marketplace which we believe the Staples Center will have is very exciting for us.'' Previously, Pepsi-Cola Co. had paid the most, $60 million, for naming rights to the arena in Denver. With the 80-plus Lakers and Kings games - depending on playoffs - arena officials hope to have more than 250 events at the facility. Among the plans are to seek award shows, such as the Grammys, Emmys and Academy Awards, NCAA basketball playoffs and concerts. ``This is going to be a very, very hot venue,'' Kyser said. Enthusiasm for the new arena already has been generated among the downtown corporate community on another front - the lease of luxury boxes. John Semcken, an arena vice president, said commitments have been received for about 50 of the 160 luxury boxes at annual costs of $220,000. ``We've been very pleased with the response from downtown and these firms,'' Semcken said. ``We think it shows that this arena is attractive to downtown.'' As part of the arena deal, Stemberg said his firm and the arena company have established a foundation to help youth programs in the inner city. The first grant of $1 million is going to the Inner City Arts Center, which works with 12,000 youngsters. Kings co-owner Edward Roski Jr. said the importance of the deal was in providing credibility to the arena as it seeks funding from the financial community to build the $300 million facility. ``This is telling everyone that we have a viable arena,'' Roski said. Jerry West, Lakers vice president of basketball operations, said he looked forward to seeing his team play in the new facility and recalled his own excitement as a player when the team moved from the Sports Arena to the Forum. ``We couldn't wait to play there, to have our own home,'' West said. ``I think this will help us keep some of the younger players we have and attract new ones.'' CONCERT HALL AT A GLANCE Key facts about the proposed Disney Concert Hall: OPERATORS: Music Center of Los Angeles County. LOCATION: Southwest corner of Grand Avenue and First Street, directly across from the Dorothy Chandler Pavilion. COST (estimated): $220 million. OPENING: Construction is scheduled to be completed by 2001. TENANTS: The primary tenant, the Los Angeles Philharmonic, will perform its winter subscription series there; the philharmonic's Green Umbrella series and guest performances also will take place. Additional programming to be determined. The California Institute of the Arts also will have a performance space. CORPORATE AND FOUNDATION DONORS: Include the Walt Disney Co., Wells Fargo, Ralphs/Food 4 Less Foundation, Times Mirror Foundation, and ARCO. An estimated 80 percent of total project funds have been raised so far. SPORTS ARENA AT A GLANCE Key facts about the downtown sports arena: OWNERS: Edward Roski Jr. and Philip Anschutz. LOCATION: Replacing the North Hall of the Convention Center at 11th Street and Figueroa Avenue. COST: $300 million. City of Los Angeles
OPENING: Construction is scheduled to be completed by October 1999. TENANTS: Los Angeles Lakers and Los Angeles Kings The Los Angeles Kings are a professional ice hockey team based in Los Angeles, California, USA. They are members of the Pacific Division of the Western Conference of the National Hockey League (NHL). will be permanent tenants for 25 years. EVENTS: Operators hope to have up to 250 events a year, including concerts, award shows, all-star basketball and hockey games, and political and other conventions. SPONSORS: Staples Inc. is the main sponsor, paying $100 million for naming rights. Operators hope to have about 20 more sponsors, paying premium rates for the right to exclusivity for several years. CAPTION(S): 2 Photos, 2 boxes PHOTO (1) L.A. Kings President Tim Leiweke talks about the Staples Center during Monday's presentation at the North Hall of the Convention Center. Terri Thuente/Daily News (2) Disney Chairman Michael Eisner, left, greets architect Frank Gehry as Tim Disney, Walt Disney's great-nephew, applauds. Associated Press BOX: (1) CONCERT HALL AT A GLANCE (see text) (2) SPORTS ARENA AT A GLANCE (see text) |
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