Hard Wired: Financing Sports Venues Featured on CIT “5
Minute Capital” Podcast Series
NEW YORK (Business Wire EON/PRWEB ) September 29, 2008 --
CIT
Group Inc. (NYSE: CIT), a leading global commercial finance company,
today released another installment of 5
Minute Capital, a series of 5-minute podcasts featuring senior CIT
executives commenting on current market conditions, investment
trends and future growth opportunities in the middle market.
In this second installment, entitled Hard Wired: Financing Sports Venues,
Gordon
Saint-Denis, Managing Director of CIT
Communications, Media and Entertainment, Sports, provides his
perspective on financing new stadiums and the impact these venues have
on local municipalities.
In commenting on the complexity of arranging stadium financing
transactions Saint-Denis says, “They’re
very complex with respect to the amount of time it takes to build the
building. You have to structure your financing around that so you have
drawdowns on your facility that are consistent with the projection in
the building schedule.”
In discussing the opportunities to finance arenas outside the United
States he says, “The European sports market
has changed quite a bit. You’ve had a number
of U.S. owners come over and purchase teams there and one of the things
they’re doing is taking their experience with
the building boom of new stadiums and arenas and you’re
seeing either major renovations or new stadiums going up throughout
Europe - primarily with the premier soccer league in the United Kingdom
and some of the other markets in Spain and France as well.”
EDITOR’S NOTE:
Individuals interested in receiving corporate news releases can register
at http://newsalerts.cit.com
or subscribe to the RSS feed at http://rss.cit.com.
In addition, CIT podcasts are available at www.5minutecapital.com.
ABOUT CIT
CIT (NYSE: CIT) is a global commercial finance company that provides
financial products and advisory services to more than one million
customers in over 50 countries across 30 industries. A leader in middle
market financing, CIT has more than $70 billion in managed assets and
provides financial solutions for more than half of the Fortune 1000. A
member of the S&P 500 and Fortune 500, it maintains leading positions in
asset-based, cash flow and Small Business Administration lending,
equipment leasing, vendor financing and factoring. The CIT brand
platform, Capital Redefined, articulates its value proposition of
providing its customers with the relationship, intellectual and
financial capital to yield infinite possibilities. Founded in 1908, CIT
is celebrating its Centennial throughout 2008. www.cit.com
See the original story at: http://eon.businesswire.com/releases/minute_capital/hard_wired/prweb1400864.htm
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