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  • CFL NEWS & NOTES

         SHREVEPORT REJECTS FRANCHISE HALF-OWNERSHIP:  Jerry Jones,
    attorney for the city of Shereveport, dealt the city's CFL
    franchise "another blow" when he told Pirates team officials that
    the city cannot own stock or share in a for-profit enterprise.
    Pirates President Lonie Glieberman had offered the city half-
    ownership of the franchise at a price of $3M over the next five
    to 10 years.  Shreveport Economic Development Director Dale
    Sibley said he was unsure what options the city had left to try
    and keep the franchise from relocating (Gary Hines, Shreveport
    TIMES, 10/27).
         DEADLINE FOR TIGER-CATS:  The CFL has given the Hamilton
    Tiger-Cats until December 23rd to meet the criteria set out by
    the league's Board of Governors, to ensure the future of the
    franchise in Hamilton.  The club must sell 12,500-15,000 season
    tickets for '95; generate a minimum of $1M in corporate
    sponsorship; and, the city must commit to building private boxes
    for the 1995 season.  The condition is part of the city's '96
    Grey Cup bid (CFL).
    

    Print | Tags: CFL, Franchises, Pittsburgh Pirates
  • DOES THE NEW WARRIORS OWNER KNOW THE WAY TO SAN JOSE?

         Warriors Owner Chris Cohan, who is considering moving the
    franchise to San Francisco or San Jose, last night attended a
    Warriors exhibition game at San Jose Arena.  Prior to the game,
    Cohan took a tour of the facility and said he was "open-minded"
    about a move to San Jose: "It's a nice place, no question about
    that."  Warriors President Dan Finnane has spent the past 18
    months trying to build a new arena for the Warriors in the Bay
    Area.  Cohan's attorney, Robin Baggett, said that the San Jose
    Arena falls a "few seats short of what we're looking for, but
    it's there.  In California, that says a lot."  Cohan said that he
    expects to make a decision by June.  Attendance for last night's
    game was 15,166 (Bud Geracie, SAN JOSE MERCURY NEWS, 10/27).
    

    Print | Tags: Anheuser Busch, Franchises, Golden State Warriors
  • PIRATES BIDDERS CUT TO FOUR, SALE EXPECTED BY THANKSGIVING

         Pittsburgh Mayor Tom Murphy has announced that four groups
    remain in contention to buy the Pirates; they are headed by:
    Steelers President Dan Rooney, former Orioles Exec Larry
    Lucchino, Adelphia Communications Chair John Rigas and Florida
    Financier Malcolm Glazer.  Murphy said he hoped to narrow the
    list of Pirates bidders to two within two weeks and to have a
    sale wrapped up by Thanksgiving: "We have a deadline and we need
    to move."  Murphy did not disclose details of individual bids,
    but did say all four groups have raised the issue of a new
    baseball stadium.  City officials indicate Rigas and Rooney are
    seen as front-runners (Steve Halvonik, PITTSBURGH POST-GAZETTE,
    10/26).
    

    Print | Tags: Baltimore Orioles, Franchises, Pittsburgh Pirates, Pittsburgh Steelers
  • REPORT SAYS BASEBALL WOULD BRING $125M TO ORLANDO

         The city of Orlando could take in nearly $125M a year in
    economic activity if the city gains a baseball franchise,
    according to a study by an Orlando research firm.  These figures
    will be used by Orlando Mayor Glenda Hood and others to help
    promote the city's efforts to land a club, and counter opponents
    who claim the team would only "enrich aspiring owner Norton
    Herrick" but "do little for greater Orlando."  The study
    indicates the team could attract up to 729,00 fans from outside
    the principal drawing area of Orange, Oseceolo, Seminole and Lake
    counties.  Other details: Players, administrators, and employees
    of the team would bring $16M to the area in salaries and wages,
    plus spend an additional $5M in good and services.  Fans
    attending 81 regular season games would pay more than $1.4M in
    sales, gas and resort taxes.  Herrick: "It (baseball) is
    obviously a positive.  You don't have governors and mayors of
    cities going after these franchises for nothing" (Dan Tracy,
    ORLANDO SENTINEL, 10/26).
    

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  • TIMBERWOLVES DEAL IN TROUBLE AGAIN? MORE FINANCING PROBLEMS

         "The on-again-off-again Timberwolves/Target Center deal is
    threatened anew," according to this morning's ST. PAUL PIONEER
    PRESS, which reports that potential Wolves owner Glen Taylor has
    lost "major sources of money for the deal."  First Bank System
    had planned to invest $9M in the Wolves, but ran into questions
    from bank regulators and withdrew, according to sources familiar
    with the deal.  Bank companies are not supposed to own more than
    5% of voting stock in nonbanking businesses, "and federal
    regulators balked at First Bank's plan to own" about 10% of the
    Wolves.  Taylor: "It's a new glitch, and I would have preferred
    it not come up."  When asked if this would undo the deal: "I hope
    not."  The deal is not supposed to be closed until December when
    Taylor is to have his financing lined up and public agencies are
    to have sold $54M in bonds for a Target Center buyout.  Taylor
    feels "pretty comfortable" that he can find investors willing to
    put in a minimum of $1M each by then.  Taylor and Twins owner
    Carl Pohlad have talked in the past about the "long-term
    possibility of combining the basketball and baseball teams in one
    company, with the possibility of selling shares to the public in
    several years."  Taylor declined to say if Pohlad would "pinch
    hit for First Bank" (Gail Marks Jarvis, ST. PAUL PIONEER-PRESS,
    10/27).
    

    Print | Tags: Franchises, Minnesota Timberwolves, Minnesota Twins
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