Patriots Advise Boston: Build It Or Lose Us

Victor Kiam, owner of the New England Patriots, reportedly said that unless the National Football League team gets a new stadium in the area in the next few years, it will leave New England and he will sell it.

Kiam told Boston officials at a private meeting Tuesday that the Patriots cannot stay at Sullivan Stadium in Foxboro more than three of four more years because at that point the team could not compete financially with others in the NFL, the Boston Globe reported today.

He reportedly said he will lose $6 million to $8 million on the team this year, but expects to break even next year because of a major increase in revenue from television.

But, he said that in 1991, players’ salaries will increase, and he again will start to lose millions of dollars.

Kiam, who paid $85 million for the Patriots in 1988, said that unless the team can stay in New England, he will sell it to someone from another city seeking a franchise.

Kiam said he does not get any income from luxury boxes, concessions or parking at Sullivan Stadium. Most NFL teams average $3 million to $4 million in revenues.