SBD/28/Franchises

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  • CANUCKS INVESTOR HOPES TO FILE SUIT AGAINST VANCOUVER OWNER

         Primex Investments, a minority shareholder of Northwest
    Sports Enterprises, has filed a petition with the British
    Columbia Supreme Court requesting permission to sue Northwest
    President Arthur Griffiths and associates for allegedly co-opting
    the new hockey arena and NBA franchise for themselves.  If the
    petition succeeds, Primex said that it will seek damages against
    Griffiths and the other directors of Northwest for "breaches of
    their duties of care and loyalty" to Primex by selling the new GM
    Place arena to Griffiths and his associates for a nominal $100.
    Primex said that it will also seek damages against Griffiths for
    buying a direct interest in the Grizzlies rather than acquiring
    the franchise through Northwest for the benefit of all
    shareholders.  The petition states: "Griffiths wanted the arena
    for himself.  He was attempting to acquire a NBA franchise for
    himself or for a group of which he was a member -- a franchise
    that he had been earlier seeking for Northwest" (David Baines,
    VANCOUVER SUN, 10/28).
    

    Print | Tags: Franchises, NBA
  • IS WINNIPEG GIVING UP ON NHL AND THE JETS?

         Accountant Steve Bannatyne, who will assume control of the
    Winnipeg Enterprises Corporation in late November, said yesterday
    that he is interested in attracting an IHL franchise to a
    downsized Winnipeg Arena.  Bannatyne said he is skeptical that
    the NHL's Jets will be able to remain in Winnipeg, even following
    the completion of the Manitoba Entertainment Complex: "Keeping
    the Jets in Winnipeg will be very difficult even with a new
    building.  Everyone is aware that the NHL has to get its labor
    costs under control, but I still don't see the league making an
    offer to its players that cuts the total payroll to $15 million
    Canadian.  Without that, it's going to be tough to keep the Jets
    here.  I'm an accountant and I look at the economics and I don't
    see how we can afford the NHL in Winnipeg."  With that in mind,
    Bannatyne plans to become active in pursuit of an IHL team: "I
    think an IHL franchise would be ideal for a city this size"
    (WINNIPEG FREE PRESS, 10/28).
    

    Print | Tags: Franchises, New York Jets, NHL
  • MINNESOTA'S GOTTA HAVE FAITH IN GLEN TAYLOR

         Marv Wolfenson, who with Harvey Ratner is selling the
    Timberwolves to Glen Taylor, is not concerned that First Bank
    System's withdrawal of $4.5M will leave Taylor without sufficient
    money to close the deal.  Wolfenson: "He wants to own it, the
    league wants him to own it, everybody wants him to own it, so why
    shouldn't he own it?" (Charley Walters, ST. PAUL PIONEER PRESS,
    10/28).
    

    Print | Tags: Franchises, Minnesota Timberwolves
  • RAMS OFFICIALS VISIT ST. LOUIS

         Rams officials, not including team president John Shaw, were
    in St. Louis Thursday "as part of continuing discussions" about
    moving the team to St. Louis.  The city's delegation included
    FANS Inc. point man Tom Eagleton.  A source close to FANS Inc.
    said it was the first time Rams officials had been to the city.
    Before the Rams visit, Eagleton said that the two parties had a
    "steady" exchange of dialogue and "didn't rule out" possible
    face-to-face meetings.  FANS presents its revised proposal to the
    Rams in early November and hopes to hear a decision by
    Thanksgiving.  MO businessman Stan Kroenke and Rams officials
    "continue to progress" in negotiations to have Kroenke purchase a
    minority interest if the Rams move to St. Louis (Jim Thomas, ST
    LOUIS POST DISPATCH, 10/28).
    

    Print | Tags: Franchises, St. Louis Rams
  • SACRAMENTO BUSINESSMEN CONSIDER PURCHASE OF A'S

         Sacramento businessmen Kevin McClatchy and Fred Anderson
    yesterday confirmed reports that they are interested in
    purchasing the Athletics.  But the two businessmen denied that
    they have any intention of bringing the club to Sacramento.
    Earlier yesterday, Sacramento Mayor Joe Serna pledged that the
    city would build a new baseball stadium if the two men were
    successful in purchasing the A's.  Anderson, who is part-owner of
    the Kings and owner of the CFL's Sacramento Gold Miners, said
    that he has had trouble with Sacramento officials in the past and
    would therefore not be interested in bringing the A's to the
    city: "I've given up on Sacramento."  Anderson said he would like
    to couple a purchase of the A's with moving the Gold Miners to
    the Oakland Coliseum.  Sources have confirmed that at least four
    and as many as six other groups have received permission from the
    American League to look at the A's books (John Hickey, OAKLAND
    TRIBUNE, 10/28).
    

    Print | Tags: CFL, Franchises, Oakland Athletics
  • STARS FACE SUIT FROM ANGRY SEASON-TICKET HOLDERS

         Seven Dallas fans have filed a lawsuit againt the Stars
    seeking a full refund for their season tickets.  The suit seeks
    "refunds, interest and court cost for failing to provide the
    sports entertainment contracted for."  Two days ago the team
    announced its ticket-refund policy which allows full refunds to
    be made only on games cancelled by the NHL.  Mark Brinkman,
    originator of the suit: "Them announcing the refund policy wasn't
    the reason we filed, but it's basically a joke.  They've
    basically told us, 'We'll hold on to your money and pay you 5%
    interest for the right to do that.'  I'd just as soon have my
    money back now."  Each plantiff is seeking the price of a season
    ticket ($1,190.75 or more), minus a non-refundable $250 deposit,
    and each asks for $264 in parking costs" (Mike Heika, FORT WORTH
    STAR TELEGRAM, 10/27).  The plantiffs "also want their case to be
    ruled a class action so other ticket holders who want refunds can
    get them" (Gayle Reaves, DALLAS MORNING NEWS, 10/27).
    

    Print | Tags: Dallas Stars, Franchises, NHL, Southwest Sports Group
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