Barnes to announce signed contract with AEG this afternoon.

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MidtownCat
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Barnes to announce signed contract with AEG this afternoon.

Post by MidtownCat »

KMBZ reported this morning that the Mayor is anticipated to hold a 4.30 press conference where she will formally offer up a signed contract with AEG for the Arena outlining the 50 million in funding and operational rights which had been initially set forth.
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Barnes to announce signed contract with AEG this afternoon.

Post by LyRiCaL GanGsTa »

yes :cheers:
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Barnes to announce signed contract with AEG this afternoon.

Post by KCPowercat »

AWESOME
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chrizow
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Barnes to announce signed contract with AEG this afternoon.

Post by chrizow »

is this going to settle the speculation about Sprint wussing out on their end of the deal?

could this possibly be where AEG and MKB announce a marquee tenant?

or is it just a formal ceremony wherein AEG comes through on THEIR promise, leaving the other funding still up in the air?
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Barnes to announce signed contract with AEG this afternoon.

Post by KCPowercat »

Sprint has still not signed a contract but this will do a lot to get them signed....no way they back out now...it would be a P.R. disaster.

I doubt a tenant is announced but some kind of sexy announcement would be cool
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Barnes to announce signed contract with AEG this afternoon.

Post by Beltonhawk »

I can say without a doubt that Sprint is still interested in naming rights to the arena. I can't give any more details that that, but if you've followed the Arena thread, you'll know how I know this.
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Barnes to announce signed contract with AEG this afternoon.

Post by dangerboy »

Contract only involved city and AEG. Sprint still has not signed a final deal on naming rights, and we have less than a month before the August vote.
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Barnes to announce signed contract with AEG this afternoon.

Post by QueSi2Opie »

Channel 9 showed some idiot saying that taxpayers will be asked to pay for an arena after it fails just like we're being asked to pay for 18th & Vine, Union Station, the Zoo, the Stadiums, etc.

I guess some things never need upgrading?! What a backwards clown!
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Barnes to announce signed contract with AEG this afternoon.

Post by aknowledgeableperson »

Still no contract. Just a non-binding agreement. AEG still has not made a legal agreement with the City. The Star has said that after the vote the City will be in a better position with AEG to get a legal agreement but I feel otherwise. The City needs AEG more than AEG needs the City. And if the fees are passed the City will be more desperate to get a deal done.
The City is already providing 500 parking spaces in the non-binding agreement. Just think what the City will have to provide 3 to 6 months from now to get AEG to a contract.
And Sprint still has not signed a contract. UMB still has not finalized a land deal. A lot of things are in the air BEFORE the vote. That is not good.
I may be right.  I may be wrong.  But there is a lot of gray area in-between.
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Barnes to announce signed contract with AEG this afternoon.

Post by Beltonhawk »

Bill Haw, is that you?

Just kidding AKP - your concerns are valid, but at some point, you just have to say that this is as good as it's going to get, and jump. I'm well past that point. Many are not.
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Barnes to announce signed contract with AEG this afternoon.

Post by trailerkid »

aknowledgeableperson wrote:the City will be more desperate to get a deal done.
Why would having the fee in place make them "desperate"? That makes absolutely no sense. Once the city has $170+ M in public financing the city becomes more attractive for any partner in constructing the arena. They could dump AEG and search out a better deal if they wanted to.

I think you would look for the drawback even if KC was handed a golden brick. Nothing is perfect, and this agreement won't be perfect. It will lead Kansas City into the future-- something many people are trying their hardest to stop.
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Barnes to announce signed contract with AEG this afternoon.

Post by KCPowercat »

aknowledgeableperson wrote:Still no contract. Just a non-binding agreement. AEG still has not made a legal agreement with the City. The Star has said that after the vote the City will be in a better position with AEG to get a legal agreement but I feel otherwise. The City needs AEG more than AEG needs the City. And if the fees are passed the City will be more desperate to get a deal done.
The City is already providing 500 parking spaces in the non-binding agreement. Just think what the City will have to provide 3 to 6 months from now to get AEG to a contract.
And Sprint still has not signed a contract. UMB still has not finalized a land deal. A lot of things are in the air BEFORE the vote. That is not good.
Paul Dannaher everybody....

It's already been stated that more has been done before this public vote than in almost any other similiar situation in other cities.
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Barnes to announce signed contract with AEG this afternoon.

Post by aknowledgeableperson »

[quote=""trailerkidWhy would having the fee in place make them "desperate"? That makes absolutely no sense. Once the city has $170+ M in public financing the city becomes more attractive for any partner in constructing the arena. They could dump AEG and search out a better deal if they wanted to.
[/quote"]

The City becomes desperate for the following:
Without the $50 million the City cannot build the arena.
To get another partner, if there is one, takes time and Barnes wants her palace done before she leaves office. Besides has anyone reported any interest by any other parties?
AEG is smart enough that if the deal is not to their terms they can take their money someplace else. Besides they are probably using borrowed money and if the deal does not go through they will not have to borrow it.
AEG very well could be in demand in other parts of the country. They do not have to make the deal here. In fact the Star has reported a few deals AEG has become involved in since the City's arena announcement.
To summarize - the City needs AEG; AEG does not need the City. And the City's need becomes greater if and when the fees pass.
I may be right.  I may be wrong.  But there is a lot of gray area in-between.
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