Orlando Magic owner Rich DeVos plans to leave the 11-year-old TDWaterhouse Centre after the team's five-year lease with the cityexpires in 2004. A new arena could cost up to $500 million, basedon the figures of a handful of new NBA arenas already opened orplanning to open shortly.
Renovating the 17,000 sf Orlando arena might be in the $40million range if land, road and utility improvements are factoredinto the pro forma.
Who is going to pay for a new arena and for a facelift on theold arena? That's another unanswered question the city faces.
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