SBD/13/Franchises

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  • BALTIMORE OFFICIALS SET A COURSE FOR L.A. -- RAMMING SPEED?

         MD Gov. William Schaefer heads to L.A. for an "economic
    development trip" this weekend during which he is expected to
    meet with Rams officials.  Schaefer has made a Baltimore NFL
    franchise "a top priority" for the remainder of his term.  Rams
    spokesperson Heidi Sinclair said a "courtesy meeting" between
    Schaefer and Rams president John Shaw "appears" likely to take
    place.  Orioles owner Peter Angelos is also expected to be in
    L.A. this week.  (Jon Morgan, Baltimore SUN, 9/13).  In a related
    piece, Ken Rosenthal calls Angelos "the Napoleon of baseball
    owners, exiled to Elba" and reports he has made the NFL franchise
    his "new diversion" (Ken Rosenthal, Baltimore SUN, 9/13).
         SOUR GRAPES?  Rosenthal responds to the announcement that
    the Buccaneers are not for sale:  "Who are these people kidding?
    Of course, the Bucs are for sale.  They're just trying to dupe
    their fans into believing otherwise, so that maybe more of them
    will come to games" (Baltimore SUN, 9/13).  But in Tampa this
    morning, Joe Henderson counters that the Bucs "were never for
    sale" (TAMPA TRIBUNE, 9/13).
    

    Print | Tags: Baltimore Orioles, Franchises, NFL, St. Louis Rams, Tampa Bay Buccaneers
  • STAVRO TO FIGHT ON, MLG FATE UP IN AIR FOR AT LEAST A YEAR

         Grocery magnate Steve Stavro has decided not to appeal an
    Ontario court injunction "blocking his takeover" of Maple Leaf
    Gardens Ltd., "but he does plan to fight the civil suit filed
    against him by the Public Trustee of Ontario."  The Public
    Trustee is suing to "nullify" Stavro's purchase of the 60%
    interest in MLG owned by the Harold Ballard estate.  The Public
    Trustee, which oversees charities and trusts, "has charged that
    Stavro breached his fiduciary duty to the Ballard estate, which
    is responsible for seven charities, by using his position" as
    executor of the Ballard estate to buy MLG shares "below their
    true market value."  Stavro attorney Brian Bellmore did not rule
    out the possibility of an out-of-court settlement at some point,
    but said, for now, the "appropriate way to deal with this" is by
    going to trial.  One MLG shareholder, Red Wings VP Jim Devellano,
    said  Stavro should "take the high road" and return the shares to
    the Ballard estate, to avoid the court battle.  Bellmore
    estimates that it will take about a year for the case to be
    heard, "after which there could be appeals" (William Houston,
    Toronto GLOBE & MAIL, 9/13).
         BALLARD ESTATE UPDATE:  The Ballard estate has paid the
    National Bank more than C$3M to "settle a claim on a loan
    guarantee" by Harold Ballard.  The estate used proceeds from the
    May '94 sale of 60% interest in MLG to settle the claim.  The
    estate collected about $70M from the sale but the Trustee's
    challenge could throw the payment and other debts settlement in
    doubt (Tony Van Alphen, TORONTO STAR, 9/13).
         LABATT WATCH:  John Labatt Ltd. holds its annual
    shareholders meeting today.  JLL is mentioned as a possible buyer
    of MLG Ltd. (Toronto GLOBE & MAIL, 9/12).
    

    Print | Tags: Detroit Red Wings, Franchises, Labatt Brewing
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