OVITZ CAN'T WAIT; HE SEES NO REASON FOR OWNERS TO SIT ON DECISION.Byline: BOB KEISSER KANSAS CITY Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Mo. Michael Ovitz Michael S. Ovitz (b. December 14 1946, Los Angeles, California) is a former talent agent and Hollywood powerhouse who served as the head of the Creative Artists Agency from 1975 to 1995. is many things. He was the former chairman of the most powerful talent agency in Hollywood. He once was the right hand of Disney's 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. , before a sudden amputation amputation (ăm'pyətā`shən), removal of all or part of a limb or other body part. Although amputation has been practiced for centuries, the development of sophisticated techniques for treatment and prevention of infection has greatly . He's the man who on Tuesday asked the NFL NFL abbr. National Football League NFL (US) n abbr (= National Football League) → Fußball-Nationalliga owners meeting here to award him an expansion franchise and let him build a stadium on a landfill in Carson. He also is not very patient. Michael Ovitz has a vision, and he wants the NFL to share it, sooner than later. In his eyes, he is not competing against the heathen representing the New Coliseum or those fine folks from Houston, who are including revenue from rodeos as part of their NFL buy-in. The man whose reputation in Hollywood was built on the art of the deal believes he has painted the league a picture that is breathtaking and of great importance to all 31 owners. There should be little reason for debate, because his proposal makes the most sense, and also comes with an expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. . ``We are talking about something that is new, fresh, safe, comfortable and centrally located,'' said Ovitz, the Stealth owner, in a rare public appearance. ``There are 16 million people living within a 30-minute Sunday drive of Carson. ``We answered all of their questions about the areas they were concerned, location, stadium, financing, ownership and marketing. We are redefining the terms of a `new' NFL franchise. ``We can't sit on the project for three years. We made an exciting presentation, and this is the group to get it done.'' End of story. In the NFL, of course, there is no end. There are only more cities to conquer. Just as it behooved league owners to talk up the Ovitz proposal earlier this year as leverage in the stadium game, it behooved them Tuesday to praise all three groups assembled and not tip their hand. The last time the league considered a major expansion, four cities were competing: Jacksonville, Carolina, St. Louis and Baltimore. The first two got expansion teams. The two losers then went out and stole teams. All four teams now play in new stadiums. Coincidence? I think not. Representatives of both Houston and the New Coliseum group, led by Kings owner Ed Roski, acknowledged that their groups are willing to explore an existing team moving into their proposed new stadiums. When asked how that might play into this expansion decision, NFL commissioner Paul Tagliabue Paul John Tagliabue (born November 24 1940 in Jersey City, New Jersey) was the Commissioner of the National Football League. He took the position in 1989 and was succeeded by Roger Goodell, who was elected to the position on August 8, 2006. said, ``I couldn't speak to that.'' No, of course not. Ovitz made it clear this is a one-time offer. If he doesn't have a decision in hand by early 1999, he wouldn't be able to have a stadium ready for kickoff in 2002. He eloquently hammered home other points that are important, if not new, apparently designed to speed up the NFL's process. ``My 11-year-old son has never been to an NFL game,'' he said. ``If we wait too much longer, there will be a whole generation of kids in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, who did not grow up with the NFL. We tried to make the owners aware of that and included a detailed marketing plan. ``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. is an integral part of branding the NFL throughout the world. It does not make sense to have 16 million people involved with the NFL, to have the second-largest TV market without a team.'' Ovitz said he provided the league a detailed finance plan, but he didn't itemize To individually state each item or article. Frequently used in tax accounting, an itemized account or claim separately lists amounts that add up to the final sum of the total account on claim. much of it for the media. He didn't say what percentages his 10 equity partners had, and did not give specifics on his deal with Herbert Glimcher, who owns the option to buy the land. Only one of the heavy financial hitters on his team, supermarket czar Ron Burkle, was part of the ownership group present. And last week, his contact at Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , David Coulter, parted company with the bank. Previously, Ovitz aides had referred to having up to a $750 million line of credit. Ed Brown of Bank of America was present Tuesday as part of the Ovitz team, and now the line has been set at $400 million. After you and I get past the first million, it all sounds like funny money. But to the NFL, that can break a deal. It's what killed author Tom Clancy's proposal to buy the Vikings. Plus, Carson's investment has changed some since last Thursday's council meeting. Before, it reportedly was $18 million in cash, set aside for the mall, and up to $180 million in bonds. Now it is $30 million cash and $150 million in bonds. City manager Jerry Groomes also noted that few of the city's revenue streams would come directly from the stadium or Ovitz. It would make its nut from the mall, ticket and parking surcharges, an increase in property taxes related to the project and state development money. ``Where we would make money is from anything else we add to the project,'' said Groomes, referring to the building of nearby hotels and retail shops. ``That would be gravy. Even if none of that occurs, we'll still be able to pay the debt service (on the bonds) and make a profit.'' And the city won't move forward with anything until the NFL gives Ovitz the go sign. That won't come until January at the earliest, leaving all three groups more time to lobby their ideas and lob grenades at the others. New Coliseum representatives believe Ovitz does not have the money to make the deal happen. Ovitz aides say the New Coliseum is old news and the league will expand to Fiji before it does to Exposition Park Exposition Park is the name of more than one place:
2. PSL - Problem Statement Language. See PSL/PSA. revenue is Fantasyland fan·ta·sy·land n. A place conjured up by the imagination, often populated by bizarre inhabitants: a fictional fantasyland teeming with unicorns and elves. . Into Tuesday night, reps from both sides were inviting reporters to visit their suite and have dinner. The New Coliseum served ribs. Team Ovitz served sushi. When in doubt, feed. Check back tomorrow for the breakfast menu. CAPTION(S): Photo, Drawing PHOTO (Color) Michael Ovitz speaks to the media about his Carson group's presentation to the NFL. Ed Zurga/Associated Press DRAWING: (Color) Former Hollywood dealmaker deal·mak·er n. One that makes deals, as in business, finance, or politics. deal mak Michael Ovitz thinks his vision of Los Angeles' NFL future - The Hacienda in Carson - should be embraced by the league's owners. Rendering by Tom Schaller, Rockwell Group |
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