SBD/20/Franchises

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  • FORMER ROCKIES STOCKHOLDER HAD THAT ROCKY MOUNTAIN HIGH

         The attorney for the former president of the Phar-Mor
    discount drugstore chain, Michael Monus, claimed in federal
    Bankruptcy Court that Monus was "medicated and groggy" when he
    signed an agreement to sell his interest in the Rockies.  Monus
    is suing Rockies investors to recoup money he believes he lost
    because he sold his stock for what he alleges was less than fair
    value (AP/ROCKY MOUNTAIN NEWS, 10/19).
    

    Print | Tags: Colorado Rockies, Franchises
  • FRANCHISE NOTES

         Pistons owner William Davidson has agreed to contribute $1M
    to the program "Partnership to Adopt and Renovate Parks for Kids.
    Organizers of the program are trying to collect $20M to spruce up
    the city's aging parks (Pistons)....Jim Speros, owner of
    Baltimore's CFL franchise, said he plans to give fans a choice of
    six or seven names for the team.  One option is to keep the team
    nameless (Baltimore SUN, 10/20).
    

    Print | Tags: CFL, Detroit Pistons, Franchises, Palace Sports & Entertainment
  • THE WHALE PLEDGES TO REMAIN IN HARTFORD UNTIL 1999

         Whalers GM Jim Rutherford said yesterday that if the entire
    NHL season is canceled because of the labor dispute, the team
    will not count its projected $8M loss against a four-year minimum
    guarantee to remain in Hartford.  As part of the June sale
    agreement with the CT Development Authority, the new Whalers
    ownership group is allowed to move to another city if it has
    suffered cumulative operating losses of more than $30M after 4
    years.  Rutherford assured fans that if there is no hockey this
    season, the ownership group will pledge to remain in Hartford
    through the 1998-99 season.  Rutherford, however, did say that if
    "half or three-quarters of the season is played," then the team
    will consider that a full season: "I believe this is evidence of
    our commitment to Hartford.  We believe that it can work here if
    we can get a collective bargaining agreement that makes sense."
    Rutherford added that under the current CBA, the Whalers
    projected losses for a full 84-game season would be $9M.  A
    canceled season will cost the team close to $8M (Jeff Jacobs,
    HARTFORD COURANT, 10/20).
    

    Print | Tags: Franchises, NHL
  • WITHOUT REVENUE SHARING, JETS COULD MOVE TO MINNEAPOLIS

         Target Center Exec Dir Dana Warg said that after a recent
    phone conversation with NHL Commissioner Gary Bettman, "the stars
    are in the right direction" for the Winnipeg Jets to move to
    Minneapolis next year.  The city of Winnipeg, which has been
    subsidizing the team, has until May 1, 1995, to decide whether to
    build an arena to keep the NHL franchise viable.  Warg: "My guess
    is that they won't."  New Timberwolves owner Glen Taylor has
    expressed interest in having a second tenant in the Target Center
    (Jay Weiner, Minneapolis STAR-TRIBUNE, 10/19).  Winnipeg Deputy
    Mayor George Fraser said keeping the Jets in Winnipeg is a
    "razor-thin deal" that hinges on a resolution to the current
    labor dispute that includes a salary cap.  Fraser added that if a
    league-wide cap is not put in place, "then Winnipeg will be the
    first city to make the decision to give up its NHL team.  And it
    will soon be followed by other Canadian cities" (Scott Taylor,
    WINNIPEG FREE PRESS, 10/20).  A source close to Jets' President
    Barry Shenkarow called Warg's assertions of a move to MN
    "garbage" (WINNIPEG FREE PRESS, 10/20).
         FLY AWAY JETS:  In Winnipeg, Val Werier criticizes the city
    for spending $8.5M a year to keep the team: "If this an example
    of how we spend our money, it is clear where the priority should
    lie -- for the services of the less affluent citizens and not to
    underwrite in part the huge salaries of the Winnipeg Jets, eight
    of whom are in the millionaire class" (WINNIPEG FREE PRESS,
    10/20).
    

    Print | Tags: Franchises, Minnesota Timberwolves, New York Jets, NHL
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