Sunday, July 23, 2006

I-Drive Back at it?

http://www.hoopsworld.com/article_18201.shtml

ORLANDO: The Magic will be getting a new arena, informed sources say the team may be close to announcing the terms of the agreement, but its believed the team is going to partner with a developer willing to donate the land for a new building, in exchange for a minor stake in the team. The new arena will be part of a larger development near Orlando’s theme park district. The bulk of the funding will come from Orlando’s hotel “bed tax”, with the DeVos family contributing a small amount in upfront funding. The Magic have issued a “gag order” on the arena issue, so no one inside the team is permitted to talk on the record, but sources close to the subject on the city side, believes a deal will get made this season, and the team could begin play in the new building as early as 2009.

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