12/4/2006 Mr. Cohen's Malaise

Look what ERA's own Jeff Cohen is in the midst of---
"RSL secrecy may kill stadium
With no open financial records, team risks losing county funds"
By Derek P. Jensen
The Salt Lake Tribune
Article Last Updated:12/01/2006 01:33:58 AM MST
"After promising to reveal its finances, Real Salt Lake has called for a confidentiality agreement to keep the Major League Soccer team's business plan and investors secret - even from Salt Lake County leaders who control the funding fate for a Sandy stadium.
The move not only jeopardizes turbulent stadium talks, but also threatens to torpedo the deal itself.
Without the financial details, ''the entire stadium would be at stake,'' Doug Willmore, the county's chief administrative officer, warned Thursday.
The disclosure dispute marks the latest and perhaps steepest hurdle in the plan to erect a 20,000-seat soccer-specific venue, which needs at least $55 million in public money to get off the now-frozen ground...."
......" New York investment banker David Kerschner, an RSL financial adviser, wrote to Willmore and referred to a "nondisclosure statement" to be signed with Economics Research Associates (ERA), a Los Angeles-based consulting firm hired by the county to do the financial review.
In a letter to ERA principal Jeffrey Cohen, Willmore wrote, "please ensure, though, that we are not included in the confidentiality agreement. As a public agency, any documents we receive may be classified as public documents."
And Willmore and Campbell insist county number crunchers must see those financial documents to determine the team's solvency.
"They're not just going to rely on a study [from ERA]," Willmore said. "That's not acceptable." ..........."
For the entire article see: http://www.sltrib.com/search/ci_4753193


And then, as if this wasn't fun enough for Jeff---

"RSL vows to show the money
CEO says it was always the intention; Corroon 'cautiously optimistic' "
By Derek P. Jensen
The Salt Lake Tribune Article Last Updated:12/02/2006 02:47:01 AM MST

"Wonder if Real Salt Lake is solvent? Who is bankrolling the club? And how will the team pay for its suites, stars and other trimmings for a $100 million soccer palace in Sandy? ...."
.....Salt Lake County Mayor "Corroon, who did not learn about the team's disclosure plans until told by The Tribune, said ERA had "some heartburn" with the confidentiality agreement."......
for the rest of the story see: http://www.sltrib.com/search/ci_4760183


You may forward donations of actacids to Jeff via the L.A. office.