SBD/19/Franchises

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  • A'S STILL FOR SALE, BUT THEY'LL PLAY IN OAKLAND IN '95

         In announcing the re-signing of manager Tony LaRussa
    yesterday, A's CEO Wally Haas also acknowledged that the team
    will remain in Oakland through 1995.  But Haas said that the A's
    still remain on the market and would continue to search for a
    prospective buyer.  Haas did not waive the December 6 deadline
    that has been given to Alameda County officials to find a buyer
    committed to keeping the team in Oakland.  Oakland Coliseum Board
    Member James Vohs said he remains "optimistic" a buyer can be
    found by the deadline (Larry Slonaker, SAN JOSE MERCURY NEWS,
    10/19).
    

    Print | Tags: Franchises, Oakland Athletics
  • BASEBALL STRIKE SLOWS TRIBUNE CO.'S 3RD QUARTER EARNINGS

         The Tribune Company's combined revenues for the publishing,
    broadcasting and entertainment business declined 4.3% for the
    September period, showed a 5.5% increase in the 3rd quarter and
    went up 9.1% for the year-to-date.  Combined broadcasting and
    entertainment revenues were down 20.8%, "primarily" from the loss
    of broadcasting revenues from Trib stations carrying baseball,
    and the loss of Cubs revenues due to the strike.  Pure
    entertainment revenues decreased 100% for the period (Tribune
    Co.).
    

    Print | Tags: Chicago Cubs, Franchises
  • HEAT SALE COOLING OFF?

         Whit Hudson, who is attempting to purchase 40% of the Heat
    from managing partners Billy Cunningham and Lewis Schaffel,
    confirmed that an "internal conflict" has slowed the transaction.
    Numerous sources close to the team said that Schaffel "told
    employees the sale was close to collapsing," but Schaffel said
    only that he was announcing that he and Cunningham are returning
    to the front office on a daily basis.  Hudson "said he has signed
    contracts" with Cunningham, Schaffel and majority owner Ted
    Arison to purchase that team, but that he needs approval from
    four limited partners before he can submit his ownership
    application to the NBA.  The limited partners own 5% of the team
    which Hudson said he isn't trying to purchase.  Hudson: "There's
    no problem with my financial package, I can assure you.  There
    just seems to be problems from the partners in there" (Alex
    Marvez, MIAMI HERALD, 10/19).
         PARTNER RESPONSE: Limited partner Raanan Katz said he wants
    "only what's fair to me and what's best for the Heat in the long
    run" and hopes "the problems will work out."  Schaffel denied
    awareness of any problems with the sale:  "I've been in neutral,
    and it's time to get back to work. ... This is our duty.  Maybe
    if we would have closed two weeks ago, someone else would be
    running the team."  Schaffel said he will talk to Hudson before
    making personnel any changes (Alex Marvez, MIAMI HERALD, 10/19).
    

    Print | Tags: Franchises, Miami Heat, NBA
  • MARINERS WANT KING COUNTY TO BUILD THEM A CASTLE

         In an attempt to persuade King County officials to build a
    community-financed stadium, Mariners CEO John Ellis yesterday
    disclosed the team's financial statement revealing that the team
    has lost between $42-50M over the past three seasons.  At that
    rate, Ellis told the King County Stadium Alternatives Task Force,
    Mariners owners will lose $50M by 1995.  Ellis contended that the
    only way to stem the losses is to build a 45-47,000-seat
    baseball-only stadium and to have MLB reach an agreement on
    revenue sharing and a salary cap with the players union.  Ellis
    further added that if a publicly-financed stadium is not built,
    the Mariners would leave Seattle.  Ellis: "I'll tell you if it's
    (baseball) gone, you'll know it, and other communities are
    standing on their ears [to have a team like the Mariners]."  The
    Task Force did not dispute the team's losses, but several members
    questioned how the public could pay for a stadium estimated to
    cost at least $250M.  Ellis admitted that even if King County
    agrees to the stadium, "things might not change" for the team if
    a new CBA does not include revenue sharing and a cap (Angelo
    Bruscas, SEATTLE POST-INTELLIGENCER, 10/19).
    

    Print | Tags: Franchises, MLB, Seattle Mariners
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