Just nine days ago, the new CEO for the Arlington Convention and Visitors Bureau -- Jay Burress, still a senior veep at Dallas Convention & Visitors Bureau for another couple of weeks -- told Unfair Park he would do his damnedest to get Tom Hicks' long-proposed Glorypark out of the ditch. "I've seen the plans," he said of Hicks' project, nicknamed "Soul of a New City" and situated next to the Rangers Ballpark in Arlington, "and it'll be fantastic, if we can get it underway." Only, not so much: The $510-million project, which was supposed to be within walking distance of Jerryworld, is on hold indefinitely, as Hicks said yesterday he can't scrape up the spare change to build the danged thing.
Which is not only upsetting the locals plenty, but also folks in Liverpool, where last week announced that Hicks would finally build his Liverpool FC soccer team a new $600-million stadium, courtesy Dallas-based HKS. Problem is, Hicks and co-owner George Gillett Jr. are dueling over ownership of the team, and Hicks has had to refinance his initial loan -- to both stave off buyout attempts from Gillett and Dubai International Capital, and to finance the stadium. Saysl Liverpool Supporters Club secretary Les Lawson, "Today's news from Dallas only adds to our concerns because if he can't afford to finance a cheaper development in the USA how could he afford to build a stadium here?" Good question. --Robert Wilonsky
There's a big difference in financing a proposed development like Glory Park than a known entity like Liverpool. Why put a whole bunch of money into a development when right now, retailers and hotels are slowing down due to the economy? He shouldn't have any problem coming up with the money for Liverpool.
Posted at: May 15, 2008 11:22 AM