RAPTORS MAKE LOW OFFER IN BID FOR ARENA SITE

     This morning's TORONTO STAR reports that the Raptors have
offered Canada Post as little as C$14M for a "prime downtown site
that's worth at least four times that much."  The property is on
Canada Post's books for C$65M.  The package "recently pitched" to
the post office by the Raptors is said to come in the form of
C$3M cash and C$1M a year for 50 years, with half the money to
come from "marketing rights."  These "rights" could range from
naming the arena after a sponsor to putting a logo on the roof to
setting up a "giant video display ad board within view" of an
area expressway.  The Raptors are "under pressure" to find a site
because "unless construction begins before next October 1, they
must pay" C$1M to the Ontario government (David Israelson,
TORONTO STAR, 11/9).