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HEAT WAVES -- HUDSON RESUBMITS BID, NBA MAY MEDIATE LAWSUIT
Published November 15, 1994
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).