Charlotte city manager to negotiate arena deal with NBA

MICHELLE CROUCH AND RICK BONNELL of the Charlotte Observer report: In a two-hour closed session that ended at 1:30 a.m., Charlotte City Council on Monday empowered City Manager Pam Syfert to start negotiating an arena deal with the NBA.

Syfert said she plans to call the NBA today to set up a meeting, which will likely be in Charlotte next month.

Syfert said NBA Deputy Commissioner Russ Granik will lead the NBA's negotiating team.

City officials declined to reveal what parameters they discussed with Syfert, saying that would weaken the city's position in the negotiations. Mayor Pat McCrory said the council reaffirmed its commitment not to use property tax revenues. However, he said they would be willing to use the sale of existing assets that may have been paid for by property taxes in the past.

The only council member to comment on the discussions left out of the meeting an hour early.

"It just got to be a ridiculous, circular discussion," said councilman Harold Cogdell, who has generally opposed funding for a new arena. "None of it involved what was in the best interests of the city."

Before going into closed session, council members said they want Syfert to stay as close to an approved $231 million financing plan as possible. And they want Syfert to be able to walk away from the table.

"Pam needs to be tough, smart and unflappable," said councilwoman Lynn Wheeler, chair of the council's economic development committee. "If she's unable to secure what she thinks is necessary for the city, she ought to walk away. Period."

The NBA will negotiate a deal on behalf of the potential owners of an expansion team. If the talks go well, the NBA has indicated it will likely choose an ownership group and award Charlotte a team.

Via Charlotte Observer

Expansion

Read the Full Story Discuss Send Feedback