Bob Lurie, owner of the San Francisco Giants, said Monday that a plan to build a privately financed downtown stadium that would guarantee the National League club would not move to another city before next season has been abandoned
Lurie said that he and developer Peter Stocker have "regretfully concluded that we are unable to structure a financing method for the construction of a downtown baseball stadium that works for both the developer and the ballclub."
Lurie and Stocker had examined a number of options over the last eight months in efforts to put together financing for the stadium. Those plans ranged from the sale of lifetime season tickets to a leasing arrangement.
"Each method we examined posed economic problems for either the ballclub or Mr. Stocker," Lurie said.
Lurie said he would not comment on what impact the announcement would have on the future of the Giants in San Francisco. The team owner has pledged that his team will not return to blustery Candlestick Park for another season. He has blamed the Giants' poor performance--100 losses last season--and a dwindling gate on weather conditions at the stadium.
San Francisco Mayor Dianne Feinstein could hardly contain her anger about the latest development. Feinstein had met with Lurie on Friday afternoon and nothing was mentioned about the Stocker plan's troubles.
"I was totally blindsided by this," she said. "But I have no intention of giving up. I'll do everything I have to, even go to court, to keep Bob Lurie and the Giants here."