The city of Memphis is seeking new forms of funding in the wake of mounting uncertainty about its ability to pull off major renovations at both FedExForum and Simmons Bank Liberty Stadium, according to documents obtained by The Commercial Appeal through an open records request.

Memphis Mayor Jim Strickland recently presented the framework of a deal to University of Memphis and Memphis Grizzlies officials that would provide nearly $500 million to renovate FedExForum and $220 million for renovations on Simmons Bank Liberty Stadium.

It's the first extensive glimpse inside the complicated negotiations taking place between the city and its two biggest sports entities.

The proposal, which was dated Aug. 28, features new tax mechanisms and funding streams to increase the amount of money at the city's disposal, in hopes of financing both projects before Strickland leaves office at the end of this year. This money would be in addition to the $350 million — and the extension of pre-existing tax incentives — Memphis received for its sports venues from the Tennessee General Assembly when it approved Gov. Bill Lee's budget last April.

If this proposed deal were approved, there would be an estimated $712 million in the city's pot of money to dole out for the two projects.


https://www.commercialappeal.com/story/s...856150007/

Like I’ve said relax it’s getting done. Both projects

(09-15-2023 03:02 PM)Eagleonpar Wrote:  Like I’ve said relax it’s getting done. Both projects

But that's not what the former Sports Columnist for the rival local paper said. There's a whole thread about it on this message board.

Seven hundred and twelve MILLION. Dollars... what is a dollar worth anymore. Good gosh. Like Ronny Raygun used to say. Couple million here, couple million there, pretty soon we're talking real money.

(09-15-2023 03:10 PM)micman Wrote:  

(09-15-2023 03:02 PM)Eagleonpar Wrote:  Like I’ve said relax it’s getting done. Both projects

But that's not what the former Sports Columnist for the rival local paper said. There's a whole thread about it on this message board.

Exactly

When has he been right about anything?

In an article about both the city of Memphis and the University of Memphis, referring to the university as just "Memphis" got confusing at times. They should default to "the city" and "the university" to make things clearer, but good editors are hard to come by these days.

(09-15-2023 03:02 PM)Eagleonpar Wrote:  Like I’ve said relax it’s getting done. Both projects

Thanks for putting our minds at ease with your valuable insider information. We would be lost without you.

The grizzlies want 550 million dollars! Why don't they just build a new arena with that. Talk about waste.

(09-15-2023 04:16 PM)sherekhan Wrote:  

(09-15-2023 03:02 PM)Eagleonpar Wrote:  Like I’ve said relax it’s getting done. Both projects

Thanks for putting our minds at ease with your valuable insider information. We would be lost without you.

Speaking of lost without someone...did Stammers get taken hostage by the North Koreans? This board has been halfway decent the last couple of weeks and I just realized I hadn't seen him post in a while.

(09-15-2023 04:29 PM)Tigers2B1 Wrote:  The grizzlies want 550 million dollars! Why don't they just build a new arena with that. Talk about waste.

I guess you did not see what the new arena in OKC is costing?

The article says that the University will kick in $5,000,000 of the $220,000,000 renovation tab, If true it is a great deal for the University

(09-15-2023 04:32 PM)oruvoice Wrote:  

(09-15-2023 04:16 PM)sherekhan Wrote:  

(09-15-2023 03:02 PM)Eagleonpar Wrote:  Like I’ve said relax it’s getting done. Both projects

Thanks for putting our minds at ease with your valuable insider information. We would be lost without you.

Speaking of lost without someone...did Stammers get taken hostage by the North Koreans? This board has been halfway decent the last couple of weeks and I just realized I hadn't seen him post in a while.

He’s coordinating some conf realignment with George Kliakof

(09-15-2023 03:10 PM)micman Wrote:  

(09-15-2023 03:02 PM)Eagleonpar Wrote:  Like I’ve said relax it’s getting done. Both projects

But that's not what the former Sports Columnist for the rival local paper said. There's a whole thread about it on this message board.

he likes to generate calls and clicks...articles like that achieve that goal.

(09-15-2023 04:57 PM)BinghamptonNed Wrote:  

(09-15-2023 04:29 PM)Tigers2B1 Wrote:  The grizzlies want 550 million dollars! Why don't they just build a new arena with that. Talk about waste.

I guess you did not see what the new arena in OKC is costing?

didn't their owner kick in 50 million...I mean, of the city is kicking in 492 million Pera/Grizz could kick in 25 right?

You would think they would just give what's needed to the LB renovations since they have a target date to start that. Finance the rest for the FEF reno and pay for it with new taxes and funds mentioned in the article. Has there been any date given to start work on FEF?

(09-15-2023 07:49 PM)UofMemphis Wrote:  

(09-15-2023 04:57 PM)BinghamptonNed Wrote:  

(09-15-2023 04:29 PM)Tigers2B1 Wrote:  The grizzlies want 550 million dollars! Why don't they just build a new arena with that. Talk about waste.

I guess you did not see what the new arena in OKC is costing?

didn't their owner kick in 50 million...I mean, of the city is kicking in 492 million Pera/Grizz could kick in 25 right?

the Grizzlies seem to be paying $25million of the renovations, about the same % as OKC Thunder is paying for the new $900milion place

(09-15-2023 09:18 PM)BinghamptonNed Wrote:  

(09-15-2023 07:49 PM)UofMemphis Wrote:  

(09-15-2023 04:57 PM)BinghamptonNed Wrote:  

(09-15-2023 04:29 PM)Tigers2B1 Wrote:  The grizzlies want 550 million dollars! Why don't they just build a new arena with that. Talk about waste.

I guess you did not see what the new arena in OKC is costing?

didn't their owner kick in 50 million...I mean, of the city is kicking in 492 million Pera/Grizz could kick in 25 right?

the Grizzlies seem to be paying $25million of the renovations, about the same % as OKC Thunder is paying for the new $900milion place

good stuff. the proposal looks reasonable so I hope it happens.

IKE says we're gonna be happy.

(09-15-2023 04:29 PM)Tigers2B1 Wrote:  The grizzlies want 550 million dollars! Why don't they just build a new arena with that. Talk about waste.

They seriously ought to think about it. The renovations are only going to go so far and carry us so long.

Eventually we'll have to build a new one to satisfy the new design and technology.

Tell the Grizz we're going to skip the renovations and start work on a new arena with their input and assistance.

(09-15-2023 11:52 PM)umbluegray Wrote:  

(09-15-2023 04:29 PM)Tigers2B1 Wrote:  The grizzlies want 550 million dollars! Why don't they just build a new arena with that. Talk about waste.

They seriously ought to think about it. The renovations are only going to go so far and carry us so long.

Eventually we'll have to build a new one to satisfy the new design and technology.

Tell the Grizz we're going to skip the renovations and start work on a new arena with their input and assistance.

With their input, assistance, and *money.* Otherwise if we're going to invest 550 million to essentially tearing down and rebuilding the FedEx forum then Grizzly Corp should be required to sign a long-term lease. Since that's what this is all about... right.