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Knights meet deadline for ballpark-financing plan

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New Charlotte Knights ballpark

The Charlotte Knights (Class AAA; International League) met a deadline for submitting a ballpark-financing plan to Mecklenburg County, meeting a key deadline for a new Uptown ballpark.

As part of the agreement with Mecklenburg County for land and $8 million in infrastructure improvements. the Knights needed to submit a financing plan for a new ballpark by July 1. And a submission was made. Nothing too radical: we already know about the naming-rights deal with BB&T and a sponsorship with Piedmont Gas, along with information on negotiations for two more prime sponsors. New: a loan commitment letter for $45 million and a commitment from Knights owner Don Beaver for $15 million. You can read a summary of the funding sources here: http://bit.ly/N8eJTx.

Assuming the county accepts the information -- and we have no reason to assume they won't -- work will proceed on the ballpark. Tonight the county commissioners will discuss the funding plan. If the approve, we could see a fall groundbreaking and a 2014 opening.

Rendering courtesy of the Charlotte Knights.

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