A proposed plan to reopen the Mid-South Coliseum

An Open Letter to Robert Pera, Joel Weinshanker, and Mayor Jim Strickland:

Like most Memphians, we've been watching the news about the conflict between the City, Elvis Presley Enterprises and the Grizzlies with a bit of shock. To see Memphis and two of its greatest names fighting it out is of concern to all of us.

The Coliseum has a unique relationship with both the Memphis Grizzlies and with Elvis. The Coliseum is mentioned by name in multiple places in the 2001 Arena Use and Operating Agreement. This agreement is what paved the way for the Grizzlies to move to Memphis. And, of course, the Coliseum is one of only three remaining Memphis venues that Elvis performed in.

Rather than continue a public fight that embarrasses Memphis, we propose the following framework for resolution:

1.  Elvis Presley Enterprises drops its lawsuit.
2. The City modernizes and reopens the Mid-South Coliseum with Tourism Development Zone funding.
3. The City uses the $8 million of historic tax credits that will come from Coliseum renovation to establish an operating endowment for the building to ensure that no City general funds are used to subsidize the Coliseum.
4. The City gives the Coliseum to Elvis Presley Enterprises for a negotiated number of days every year, free of charge and expenses.
5. The Grizzlies allow the events that Elvis Presley Enterprises stage in their negotiated days in the Coliseum to be exempt from the non-competition covenant.
6. The City operates the Coliseum for the remainder of the days of year in strict conformity with the non-competition covenant and in cooperation with the Grizzlies.
7. The City builds the proposed Sports Complex as an annex of the Coliseum in such a way that it falls short of triggering the non-participation clause in both size and competition, unlike the plans for the present stand-alone multiplexed sports complex/arena.
8. That the funding that would have gone to Graceland and Whitehaven via their facility still be provided to them as before, but for other projects, including and especially economic development.

Within this framework,

•  Elvis Presley Enterprises avoids a risky lawsuit while receiving funding for other projects on their campus and in their neighborhood, PLUS no-risk use of an historic arena with a strong Elvis (and everyone else) pedigree.
•  Grizzlies avoid the legal costs of a lawsuit and the ill will that can come with it, and instead gain the good will that will come from "resolving" the non-competition covenant, which only applies to the Coliseum at this point.
•  The City avoids a lawsuit and strengthens its state Fairgrounds TDZ application. Conjuring the magic of Elvis, the Grizzlies, the Fairgrounds, and the Coliseum would vitalize an anemic project in an economically sustainable way. Together, they flip the narrative, and the Coliseum becomes the workhorse of TDZ bond repayment.

Next year Memphis will celebrate its bicentennial. All of us in the city working together to resolve this problem in a friendly, creative manner will set a positive model for Memphis’ next 200 years.

Sincerely,

Roy Barnes

Roy Barnes is president of the Coliseum Coalition.

Event

Roundhouse Revival 3, a free, family friendly, previtalizing event featuring music, wrestling, basketball and more, is set for 2 p.m. to 10 p.m., Saturday, July 21, outside the Mid-South Coliseum, 996 Early Maxwell Blvd.