12-15-2004, 10:12 PM
WASHINGTON (Reuters) - The deal to bring Major League Baseball back to Washington, D.C, was described by Mayor Anthony Williams as close to dead Wednesday after the City Council changed the plan to require private financing.
"I believe the deal is broken. The dream is now close to dying," he said. "We're in great jeopardy here, and I think I'm being optimistic."
The City Council Tuesday approved a financing plan for a new waterfront stadium to host what would become the Washington Nationals baseball team, but added a requirement that the mayor find private financing to cover half the construction costs.
Taking out infrastructure and investment fund costs associated with the $1 billion project, the total amount needed in private financing for the stadium's construction would be about $140 million, Councilman Jack Evans said.
Without private financing in place by June no stadium would be built under the amendment proposed by Council Chairwoman Linda Cropp and approved by the council.
That could be a deal breaker, according to city sources close to the negotiations with Major League Baseball. Under the agreement signed by Williams and the baseball organization, firm funding must be finalized by December 31.
Williams and Evans, baseball's biggest supporter on the City Council, said they will continue to work with Cropp and the council to address the funding issue, noting they still have half a month to find a solution.
That would likely require the council to agree to remove the requirement that the stadium not be built without private funds. Instead, the mayor would simply be required to seek private financing options.
"I believe the deal is broken. The dream is now close to dying," he said. "We're in great jeopardy here, and I think I'm being optimistic."
The City Council Tuesday approved a financing plan for a new waterfront stadium to host what would become the Washington Nationals baseball team, but added a requirement that the mayor find private financing to cover half the construction costs.
Taking out infrastructure and investment fund costs associated with the $1 billion project, the total amount needed in private financing for the stadium's construction would be about $140 million, Councilman Jack Evans said.
Without private financing in place by June no stadium would be built under the amendment proposed by Council Chairwoman Linda Cropp and approved by the council.
That could be a deal breaker, according to city sources close to the negotiations with Major League Baseball. Under the agreement signed by Williams and the baseball organization, firm funding must be finalized by December 31.
Williams and Evans, baseball's biggest supporter on the City Council, said they will continue to work with Cropp and the council to address the funding issue, noting they still have half a month to find a solution.
That would likely require the council to agree to remove the requirement that the stadium not be built without private funds. Instead, the mayor would simply be required to seek private financing options.