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HEAT SALE TO WHIT HUDSON IN DOUBT
Published November 21, 1994
Whit Hudson's plan to purchase a controlling interest in the Heat is on the "verge of collapse, the victim of internal fighting among the team's partners and a contract dispute with majority owner Ted Arison." The NBA has set a Tuesday deadline for Hudson and Heat owners to settle their differences. Among them: Deciding who pays entertainer/ Heat partner Julio Iglesias $2.4M, and a pending lawsuit by limited partner Raanan Katz. If no progress is made, NBA owners probably will not vote on the sale until the season ends. Hudson does not "believe the NBA will approve this transaction." In August, Hudson -- brother-in- law of FL sports mogul Wayne Huizenga -- agreed to purchase 41.5% of the Heat from managing partners Lew Schaffel and Billy Cunningham for $60M (Alex Marvez, MIAMI HERALD, 11/19).