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TODAY IS NBA'S DEADLINE FOR HEAT SALE. IS ANYTHING COOKING?
Published November 22, 1994
With the NBA deadline today, "little progress has been made in resolving issues crippling Whit Hudson's planned purchase of managing control of the Miami Heat. And barring a last-minute settlement -- which is unlikely because of the complexity of the disputes and lack of communication between the involved parties - - the NBA should soon rule it won't discuss Hudson's ownership application until after the season ends in June." Hudson, who agreed last August to purchase 41.5% of the team from partners Lewis Schaffel and Billy Cunningham for $60M, said his attorneys have not met with reps of Heat majority owner Ted Arison or those of limited partners Raanan Katz and Julio Iglesias since last Friday. If the NBA delays the sale, Hudson said he would consider legal action against the Arison family. Iglesias' attorney Shepard King was optimistic a settlement could be reached within a few weeks. Katz said the deal "was done without my knowledge or consent" and that his "beef" is with Schaffel and Cunningham (Alex Marvez, MIAMI HERALD, 11/22).