SAG Principal, David Abrams, while at a previous firm, advised Houston NFL Holdings, LP (the ownership group awarded to the 32nd NFL Expansion franchise) in negotiations with the Harris County-Houston Sports Authority regarding a new $461 million, domed NFL Stadium to house the expansion of the Houston Texans.
Mr. Abrams lead the stadium funding and financial modeling effort for the team working toward construction commencement in 2000 with completion for the 2002 season. Mr. Abrams was involved in negotiations with all parties including the NFL, Harris County, the City of Houston, the Harris County-Houston Sports Authority, and the Houston Livestock Show and Rodeo. He prepared detailed cash flows analyses relating to the debt capacity of units of local government, which formed the basis for negotiating the principal funding documents. He also assisted in the preparation and presentation of Team financial information to the rating agencies and credit enhancement providers, while negotiating key business terms related to the issuance of debt by the Sports Authority.
The 71,500 seat, retractable roof, multi-purpose stadium opened in 2002.
Project Components: Multipurpose retractable roof stadium with 71,500 seats
Project Value: $461 million