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www.HartfordBusiness.com November26,2012•Hartford Business Journal 15 Celebrating 20 Years of Business News StorieS 20 Years of P4RTN3RSH1P At FML, forging close partnerships with our clients is one of the ways we distinguish ourselves from the rest of the pack. By having a deeper understanding of the complexities of each and every client, we can identify solutions to your most pressing challenges. Helping you navigate complex accounting issues with ease. To find out how working in partnership with FML can be of value to you, call or visit our website. www.fmlcpas.com | 860.657.3651 announcing a deal to move the Patriots to Hartford in time for the 2001 season. Building a 68,000-seat stadium would pro- vide the 'critical mass' needed to redevelop Hartford. "A state is defined by its capital city and today we have chance to redefine the city," he said. The ambitious $530 million project was to include a convention center, a $20 million entertainment district and the $350 million stadium. The state would pick up the bulk of the costs through bonds, paid for with a 10 percent tax on all stadium events. For Kraft's part, it was to be a 30-year commitment and he would fund an adjacent $50 million hotel. The initial deal laid out a clear timeline – legislative action by the end of the year in exchange for the Patriots not shopping for other deals. And while those initial bench- marks were met, the more formal agreement that followed was littered with trap doors and escape routes for the wily Kraft. Moving the steam plant off the proposed site was an issue; so was the cost of the envi- ronmental cleanup. The cost of replacing the power generation facility was covered in the plan but not the cost of relocating the com- pany's headquarters. The business commu- nity grumbled about being excluded from the negotiations. Stop the Stadium, led by Tom Sevigny, filed suit, charging Rowland had conspired to hide the negotiations from vot- ers. And in the process, consumer champions Ralph Nader and Attorney General Richard Blumenthal found themselves fighting on opposite sides. The twists and turns of the situation dom- inated media coverage for months. Was the price too high? Would the state be stuck with the cost of unsold tickets? Would Rentschler Field in East Hartford really be a better – and much cheaper — site for the stadium? Was CTG Resources, parent of Connecticut Natu- ral Gas, demanding too much to relocate its steam plant, its headquarters, or both? Would the NFL block the deal because of concerns about trading down to the 27th largest televi- sion market? Along the way, even as the timetable slipped and the parties started talking in terms of a 2002 debut, Rowland was adamant that "failure is not an option." But in the end, failure is just what occurred. Maybe Kraft was serious about moving to Hartford and felt the many delays were too much. Maybe Rowland should have agreed to Kraft's offer of an extension of the May 2, 1999, go/no-go deadline. Maybe Kraft was using Hartford all along to leverage a new sta- dium out of Massachusetts. Whatever the truth, on April 30, 1999, Kraft pulled the plug. He and Rowland broke the news in the same third floor room at the Capitol where they'd announce the original agreement. The rest, as they say, is history. Massachu- setts stepped up with a big check; a new sta- dium and retail behemoth was born in Fox- boro. Hartford regrouped, built a convention center, a science center, a hotel and is finally about to have that entertainment zone. But as the 20th Century came to a close, Hartford claim to be a major league market was precariously balanced on a pro golf tour- nament with serious issues of its own. — Norm Bell Patriots – from page 11 Players in the "Great Stadium Giveaway Deal" involving State of Connecticut's Gov. John Rowland and Patriots football's Robert Kraft. Once boosters of each other's every action, they're now "irrevocably divorced." Maybe Kraft was using Hartford all allong to leverage a new stadium out of Massachusetts.