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  • CANADIENS LOSSES CONTRIBUTE TO MOLSON'S POOR SHOWING

         Molson Cos. Ltd. "plans to get out of retailing and focus on
    beer and cleaning, with a bit of hockey on the side."  Meeting
    with financial analysts in New York, Molson President Marshall
    Cohen said the company's growth will focus on Diversey, its U.S.
    cleaning and chemical specialty business, even though the
    division has posted consistent losses.  Cohen also said earnings
    this year would be lower due to the NHL lockout.  According to
    company spokesperson Barry Joslin, Molson, which owns the
    Canadiens and the Montreal Forum and sponsors "Hockey Night in
    Canada," will lose $11M in operating profit if the season doesn't
    start by January 1, and $22M if the entire season is canceled
    (Art Chamberlain, TORONTO STAR, 11/15).  Molson spokesperson Bill
    Chambers:  "We still hope that a truncated season will be played.
    But not blindly.  We have a responsibility to our shareholders."
    A company statement calls the Canadiens a "legacy asset" worth
    keeping, despite the losses from the labor dispute (Francois
    Shalom, MONTREAL GAZETTE, 11/15).
    

    Print | Tags: Franchises, Montreal Canadiens, NHL
  • FRANCHISE NOTES

         With their slow start, the Hawks are having difficulty
    drawing at The Omni.  Tonight's game against the Celtics
    (featuring former Hawk Dominique Wilkins) is expected to attract
    around 10,000 (ATLANTA CONSTITUTION, 11/15)....An editorial in
    the ORLANDO SENTINEL commended the voters of Orange County for
    re-electing County Chair Linda Chapin, saying it "demonstrated"
    the local community "appreciates the potential benefit of
    bringing baseball to Orlando."  Chapin's opponent was against
    bringing Major League Baseball to the Orlando area (ORLANDO
    SENTINEL, 11/14).
    

    Print | Tags: Atlanta Hawks, Boston Celtics, Franchises, Time Warner
  • HEAT WAVES -- HUDSON RESUBMITS BID, NBA MAY MEDIATE LAWSUIT

         Whit Hudson has re-submitted his ownership bid to the NBA
    for the Heat and could discuss the deal Wednesday with league
    officials.  Hudson plans to purchase the 40% of the team owned by
    Billy Cunningham and Lewis Schaffel, and has revised his initial
    offer with "half of the $60 million purchase completed for in
    cash."  The NBA also "may offer to mediate in a lawsuit" filed
    last week against Cunningham and Schaffel by Heat limited partner
    Raanan Katz, who claims his share in the team should be doubled.
    Katz is seeking over $2M in damages (Alex Marvez, MIAMI HERALD,
    11/15).
    

    Print | Tags: Franchises, Miami Heat, NBA
  • LOCAL LEADERS RALLY TO SAVE THE BUCS

         Printing company exec Leonard Levy and insurance businessman
    Walter Baldwin, two who were instrumental in acquiring the
    franchise and bringing the Super Bowl to Tampa, are "heading up a
    ad-hoc task force that will harness business support" to keep the
    team in the area.  Don Barber, President of the Greater Tampa
    Chamber of Commerce, expects to officially announce the group on
    Friday.  It will likely be made up of 15 members and "many more"
    volunteers.  Barber: "There's a very, very strong feeling that we
    don't want to lose this team.  Regardless of the team's record,
    we still get Tampa and the Tampa Bay name spread around the
    country each and every weekend.  That gives you an image boost."
    The committee's agenda will be:  to work with the Tampa Sports
    Authority on getting funding to renovate Tampa Stadium; contact
    NFL owners and staff on the value of the Tampa area to the
    league; and work with the media to get out their message.  Former
    Tampa Super Bowl Task Force member Jim Urbanski: "There's nothing
    worse than having a team and then losing it. ... A bad NFL team
    is better than no NFL team" (Dave Szymanski, TAMPA TRIBUNE,
    11/15).  Members of the Tampa City Council said no one has
    approached them with any proposals to renovate or replace Tampa
    Stadium, but added public assistance with such a request is a
    possibility (Danielson & Dougherty, ST. PETERSBURG TIMES, 11/15).
         TAMPA TEAM NEEDS QB: Local columnist are calling on the
    Tampa community to come together in their effort to keep the
    team.  Joe Henderson of the TAMPA TRIBUNE writes that
    "competition among local folk is the last thing we need ... We
    need a statesman.  We need a hero" (Joe Henderson, TAMPA TRIBUNE,
    11/15).  Hubert Mizell of the ST. PETERSBURG TIMES writes a
    "unified" effort of "Tampa Bay Bucs Investment All-Stars" could
    be "happening."  Mizell: "It would be a dynamic coalition if our
    All-Stars got together.  It could save the Bucs.  It could make
    the Bucs" (ST. PETE TIMES, 11/15).
    

    Print | Tags: Dallas Stars, Franchises, NFL, Southwest Sports Group, Tampa Bay Buccaneers
  • MARLINS TO SEASON-TICKET HOLDERS: MONEY NOW, DETAILS LATER

         The Marlins sent letters to season ticket holders this week
    stating that any seats not claimed with a 20% deposit by December
    5 would be "released for resale."  The letter states the deposit,
    is "nonrefundable," but Marlins Media Relations Dir Chuck Pool
    "said the public shouldn't worry that they won't get their money
    back -- or at least be given options -- if the strike extends
    into next season" (Susan Miller Degnan, MIAMI HERALD, 11/15).
    

    Print | Tags: Miami Marlins, Franchises
  • STAVRO FILES COUNTER CLAIM IN MAPLE LEAF GARDENS SAGA

         Steve Stavro has filed a counter-claim against a group of
    charities that is suing him for his takeover of Maple Leaf
    Gardens, Ltd.  The charities, represented by Ontario's Public
    Trustee, said Stavro did not pay enough for the 60% block of
    shares from the estate of former MLG Owner Harold Ballard.  That
    purchase enabled Stavro to acquire 91% of MLG.  The charities'
    court action has prevented Stavro from making the company
    private, and Stavro claims the delay has caused "losses and
    incurred expenses it would have otherwise have avoided" (Paul
    Waldie, FINANCIAL POST, 11/15).
    

    Print | Tags: Franchises
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