From Deseret News archives:
Name game at stadium
Promised donations for naming rights are late
The developers of Parkway Crossing which in 2003 pledged $1.7 million for the naming rights of of the stadium are almost six months late in making the first of 10 annual donations.
So while UVSC chiefs say they believe the developers will make good on their money pledge, the stadium's signs, at least for now, will not carry the Parkway Crossing name.
A telephone message to Craig Pickering, one of the developers, was not returned Monday night. Another developer, Heath Johnston, said that he hasn't been involved in Parkway for more than a year.
A payment is due each November for 10 years and is roughly one year ahead of the repayment schedule of a construction bond Utah County government had issued for the college, Hall said.
The college is responsible for the bond which paid the stadium's construction and the donations from the developers were to help ease the burden of the repayments.
The total principal and interest on the county-issued bond is approximately $6 million, said Derek Hall, UVSC spokesman.
UVSC hasn't received any money from the developers, Hall said.
"We've talked to them. They have issues with their business operation," Hall said. "(It's a) cash flow issues for them."
"From our perspective we still have a valid agreement," Hall said. "All of our communication with them (is that they) will honor that agreement."
Other people and businesses have inquired about the stadium's naming rights, but UVSC will not entertain any offers unless the agreement with Parkway Crossing is canceled, Hall said.
UVSC has struggled to find a major donor for the stadium and realize the money pledges.
In 1999 Utah Valley businessman Gary Brinton was the first to offer big-time cash to snag the naming rights. But Brinton and the school parted ways when they could not come to terms about the scope of the project.
Construction was finished on the 2,500-seat stadium in November, UVSC Athletic Director Mike Jacobsen said, and the UVSC baseball team is already using the field. The Orem Owlz, a minor league baseball team, will also use it this summer for the first time since the team changed its name from the Provo Angels.
The Orem Owlz pay UVSC to use the stadium during the summer and was not directly involved in construction, although it did throw in money for upgrades on items such as the seats and the scoreboard.
E-mail: lhancock@desnews.com
Comments
- Late credit card payments drop in Q3 1:36 p.m.
- Study says basketball refs biased 1:13 p.m.
- Sanford faces 37 ethics charges 1:03 p.m.
- Woman killed in fall identified 1:00 p.m.
- October sales gains lift hopes 12:58 p.m.
- Home and garden news and notes 12:58 p.m.
- Ungrateful teen in your house? 12:54 p.m.
- Every Mon. Matters: Be neighborly 12:52 p.m.
- New offerings from past winners 12:50 p.m.
- Make a pilgrim to celebrate season 12:46 p.m.
- Buttars wants to limit gay rights laws
212 - Glenn Beck to enter politics?
206 - RSL wins MLS Cup on penalty kicks
181 - Palin plans tour stop in Utah
178 - BYU records with win
132 - Palin's book shows she's unqualified
129 - Officer cleared in Cardall Taser case
103 - BYU cuts Women's Research Inst.
102 - Jazz finally win in San Antonio
99 - Bronco, Kyle rubber match
94
Utah's only Pottery Barn at Trolley Square, 600 S. 700 East, has...
A little after midnight Wednesday morning, about 21 hours ago as I write...
To summerize all the soccer hater comments "Blah, Blah, Blah, My life stinks"
Okay, I think its ridiculous how people get on these comment blogs and say...
when the chips are down to try raising the food tax but come up with excuses...
My purse is no more nasty and filthy and full of objectionable and disgusting...
BON JOVI!
Dude, it's "bowl" games, not "bowel" games. A "bowl" is a round object...
12:29 p.m You make it sound like I mis-represented what happend at the GL...
If you didnt see this show, you missed out! Some of the sickest fights I have...
BYU players have NO PASSION for winning and it all starts with their head...
Following Graduation in 1980 the USA was in the largest depression since the...



You can be the first to comment on this story.