Saturday, March 18, 2000
Reds to recruit business teammates
Naming rights will be discussed
BY JEFF McKINNEY
The Cincinnati Enquirer
Groundbreaking for the new Reds stadium may still be five months off, but selling the Reds' new home officially will begin March 27.
The Reds are meeting on that day with top Tristate chief executives in hopes of landing financial support for their new riverfront stadium.
Reds Chief Operating Officer John Allen said Friday the team will have a reception for local companies and vendors to gauge their interest in purchasing things such as naming rights for the ballpark, luxury seats and concession contracts.
The money will be used to pay the team's initial $30 million contribution to building the park.
Hamilton County has signed a lease with the Reds that calls for taxpayers to ante up a maximum $280 million for construction. The team will cover any costs over that.
Mr. Allen declined to say where the reception will be, but said many companies — including the region's largest banks — have been invited.
One of those institutions has already made a commitment.
The top executive at Key Bank and Gradison McDonald Investments in Cincinnati told the Cincinnati Enquirer that those entities have paid $1.2 million to buy seats over 10 years in the Founder's Suite.
Mr. Allen would not talk about that, only saying details on such talks will develop during the next couple of weeks. He also declined to comment whether the Reds have received any commitments from other major Tristate companies.
But Richard Curry, president of Key Bank in Cincinnati and managing director of Gradison McDonald Investments, said he thinks those businesses were the first commitments for the Founder's Suite.
“We wanted to send a signal that we are committed to the community,” he said. “We hope other companies in town follow our lead and contribute however they can to making this work.”
Enquirer reporter Dan Klepal contributed.
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