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Friday, February 28, 1997
Rockets agree to stay in Houston until 2003
HOUSTON (AP) - The Houston Rockets have agreed to stay in town
at least until 2003 in exchange for the city's agreement to drop
a lawsuit against them.
The team and the city arrived at the settlement late Wednesday,
the night before a court hearing in the case.
In a separate matter, a dispute between Rocket Ball Ltd. and
Arena Operating Co. over the team's lease at The Summit continued
Thursday with a judge upholding the contract at Thursday's hearing.
That decision requires the Rockets to play in The Summit, which
is managed by AOC, until the lease expires Nov. 30, 2003.
"We've always said that the contract was valid,"
AOC president Steve Patterson said.
The Rockets wanted out of the contract so they could move to
a downtown arena they hope the city will build. The city has made
no commitment toward such a project.
"The only purpose of our lawsuit was to enable the Rockets
to move out of The Summit into a new arena in downtown Houston,"
said team vice president John Thomas. "It wasn't the result
we expected."
Rocket Ball, the limited partnership that owns the NBA franchise,
sued AOC in December to try to determine how much it would cost
to get out of the lease.
AOC owner Chuck Watson, who also owns the Houston Aeros hockey
team, contended the Rockets could be compelled to play at the
arena until the lease expired.
"He (Watson) now has the assurance that the Rockets have
to play in Houston to the year 2003," city attorney Gene
Locke said.
City officials who worried the Rockets might try to move out
of town sued earlier this month to keep them from wrestling out
of the lease.
The city of Houston owns The Summit, built with $18 million
in taxpayer supported bonds, and receives an annual fee from AOC.Send
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Copyright ©1997,
Abilene Reporter-News / Texnews / E.W. Scripps Publications
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