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Bond Refinancing Covers The Cost Of New RBC Scoreboards

August 28, 2009
Triangle Business Journal article from Chris Baysden

RALEIGH – The authority that oversees the RBC Center has saved $3.7 million in interest in a bond refinancing – savings that will go toward sprucing up the 10-year-old arena.

Basketball and hockey fans will notice the difference as soon as they enter the arena bowl for games beginning in September: Some of the savings will be used to help pay for a new $2 million scoreboard and video screen offering crisper, high-definition images.

Now if $2 million seems like a lot to pay for a scoreboard just for an athletics facility ($86K goes into $2 million 23.25 times, Gregg, FWIW), bear in mind that Jerry Jones spent 20 times that for his gargantuan, HD, punt-blocking monstrosity in the new Cowboys stadium.

But back on topic, good work on the part of the Centennial Authority. It’s rare that you see wise fiscal policy in the sports world, but when you can score a free scoreboard upgrade and pocket the remaining $1.7 million simply by refinancing your bond package, that’s worth some kudos.

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