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Breaking News

Enron Takes Another Hit: Stadium Renamed To Astros Field

Aired February 27, 2002 - 12:09   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
LEON HARRIS, CNN ANCHOR: All right, we're getting some breaking word on a development happening right now, in Houston. Daryn, you pay attention to this, because this is something you and I have talked about quite a bit, and wondering what was going to happen.

This is another bit of a fallout from the Enron disaster, debacle.

DARYN KAGAN, CNN ANCHOR: What will they call the stadium.

HARRIS: Press conference, here, announcing what they're going to call the stadium. Enron, as you may recall, had invested millions of dollars...

KAGAN: They were paid up through August of this year.

HARRIS: Yes. They were paid up through August of this year. But they invested millions of dollars to have the field that the Houston Astros play on, be called Enron Field. I believe it was a 10- year deal they had for that. Well, now, it's being announced, by the Astros, in this press conference, that it's going to be called Astros Field.

KAGAN: Really?

HARRIS: Very apt. Astros Field.

KAGAN: Just call it what it is.

HARRIS: Exactly. Pretty much a safe bet. And I've got to think this makes the fans happy. A lot of fans were not crazy about the idea of these corporate naming deals anyway, to begin with. But, here's the deal now, where the field is actually going to be named after the team that plays on it.

KAGAN: And I'm hearing word that, actually, the Astros organization is going to pay over $2 million, just to get the name back.

HARRIS: Just to get the name back.

(CROSSTALK)

KAGAN: It's unused. It's like unlisting your number. HAYNES: I would assume that's a settlement deal they had to reach with Enron, which had already -- as you said -- paid up all of the way through August, to keep the field in it's name. So there you go.

KAGAN: Astros Field.

HARRIS: Yes. Better than Ten-Run Field, which is what they were calling it for a while when people were going (UNINTELLIGIBLE) .

KAGAN: Now they he have to claim back the team.

HARRIS: Yes.

KAGAN: That is the next bit of business.

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