TITLE

Fond Farewell, Comiskey Park; Hello, U.S. Cellular Field

AUTHOR(S)
Shields, Yvette
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/2/2003, Vol. 344 Issue 31606, p34
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The Illinois Sports Facilities Authority (ISFA) � owner of Comiskey Park � approved a 68 million dollars naming-rights deal between the Chicago White Sox and U.S. Cellular Corp. that relies on a unique financing plan, including a 45 million dollar taxable bond sale to raise funds for a renovation of the ballpark. The basic structure of the bond sale was crafted by ISFA officials and advisers following the February 2003 announcement by the White Sox that the Major League Baseball franchise had struck a deal with U.S. Cellular for Comiskey's naming rights. The wireless phone provider will pay 68 million dollars in payments of 3.4 million dollars annually over a 20-year period for the rights to call the park U.S. Cellular Field.
ACCESSION #
9837466

 

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