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CELTICS PARTNERSHIP ASSETS TAKE A BIG JUMP IN '94
The Boston Celtics Limited Partnership "dramatically beefed up its financial clout in a three-month period this year, virtually doubling its assets to $206 million," according to a report in today's BOSTON HERALD. The partnership borrowed $85M from Shawmut Bank between June 30 and September 30, and put the funds into short-term investments. The team "is apparently making use of the expected windfall from the pending sale" of WFXT-TV to Fox Television Stations Inc., which is currently tied up by NBC's FCC probe of Fox. Partnership and team execs "declined to elaborate on the likely uses of the added financial clout" (Steve Syre, BOSTON HERALD, 12/14).
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EAGLETON DISMISSES RAMS TALK OF LOVING L.A.
FANS Inc. point-man Tom Eagleton isn't concerned by comments from Rams President John Shaw that the team could remain in Anaheim. Shaw stated on Monday the team may sign a short-term lease in Anaheim to see if the league will come through on a proposal to build a football-only stadium in the area. Eagleton: "The league, in all fairness, is not going to build a $300M stadium in California and then say to the Bears who want a new stadium, 'No, we can't build you one'" (Bernie Miklasz, ST. LOUIS POST-DISPATCH, 12/14).
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PLEASE SUBMIT YOUR OFFER TO THE BUCS TRUST BY....
With no offers for the Buccaneers on the "horizon, the trust that owns the team has devised a way to pump some wind into their sale." A deadline for submitting an offer may be announced to prospective owners in an "effort to accelerate the deal" (Rick Stroud, ST. PETERSBURG TIMES, 12/14). Jack Donlan, a member of the three-man trust in charge of selling the team, said the team needs to prepare for next season, adding, "You have to get things in place." Trustee Steve Story said the deadline would be placed on prospective owners "to get things going -- to get a deal done." The notion of a deadline drew criticism from local bidders. Tommy Shannon, point-man of a group from Outback Steakhouse: "I don't understand the sale process. I don't think anyone does. Is it a sealed bid? An auction? Are they going to shop around the bids?" Shannon added: "You're buying this at peak value. This is not a good time to buy" (Joe Henderson, TAMPA TRIBUNE, 12/14). Palm Beach millionaire and interested buyer, George Lindemann: "It looks like they want us to make an offer and then they'll shop it around to the next guys. ... No one is going to make an offer on that basis" (Rick Stroud, ST. PETERSBURG TIMES, 12/14) STARR QUALITY: Bart Starr met with Story for 30-minutes yesterday stating his interest. Story said Starr's group would keep the Bucs in Tampa (TAMPA TRIBUNE, 12/14). -
RAPTORS/GRIZZLIES ON THE VERGE OF MAJOR CORPORATE BUYS?
A report this morning indicates that a string of corporate block buys could put both the Raptors and Grizzlies over the NBA- imposed goal of 12,500 season-tickets. The Raptors are believed to be in negotiations with Ford, Shoppers Drug Mart, and AST Computers about the purchase of a large block of tickets. The Grizzlies, who are also speaking with Shoppers Mart, and AST, will hold a news conference next Tuesday to announce the total in their ticket campaign. It is believed they will reveal at that time that they have reached the 12,500 goal. Grizzlies spokesperson Steve Frost: "We're discussing block ticket buys and working toward closing those deals" (Craig Daniels, TORONTO SUN, 12/14). RAPTORS TV: The Raptors are reportedly interested in ABC- ESPN announcer Mike Jones to host game coverage on City-TV (William Houston, Toronto GLOBE & MAIL, 12/14). -
RED WINGS PLAYERS INVEST IN ROLLER HOCKEY
Red Wings Shawn Burr and Dino Ciccarelli are among a group of investors who purchased the Seattle Roller Hockey franchise. The team, "whose nickname might be determined by a major local sponsor," will play at Cobo Arena in Detroit for the June- September schedule. Burr said he will play for his team if the NHL season is cancelled due to the labor dispute. This is the second franchise for Ciccarelli and Burr, who also own the Sarnia Sting of the Ontario Hockey League. Burr said the two will be very involved, adding that season-ticket prices for a 12-game package will range from $100 for children to $150 for adults. The team's home games will be on local cable and all sports radio (Keith Gave, DETROIT FREE PRESS, 12/13).
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THE NBA IN CANADA, PART III: THE GRIZZLIES KEEP DRIVIN'
The Grizzlies enter the final stretch of their season-ticket drive to bring basketball to Vancouver. Since awarded a franchise by the NBA on April 27, owner Arthur Griffiths has led a furious charge to meet the league's requirements. Unlike the Raptors, who began taking season-ticket orders in October, the Grizzlies kicked off their campaign on April 28 with a season- ticket hotline. Two days later, 6,000 fans had called and committed a $100 deposit toward a season-ticket. Sales have slowed, but the Grizzlies organizational efforts have met with greater success than the Raptors. Over the past week, THE SPORTS BUSINESS DAILY spoke with members of the Vancouver media and Tod Leiweke, who is charge of the development of business and marketing opportunities for the Grizzlies. THE NUMBER: The team is around 3,000 sales short of the NBA mandated-minimum of 12,500, but reports this morning indicate that deals could push both teams over the top this week. Leiweke, Exec VP of Northwest Entertainment Group, parent company of the Grizzlies and the Canucks, said the franchise "has made progress," but refused to speculate on numbers. The Grizzlies announce their total on Tuesday. THE MARKET: Leiweke, who came over from the Warriors in early November: "The community has really wanted to see this happen. It has largely been a community initiative." Leiweke mentioned "The Ambassadors," a group of 49 business leaders throughout the city who have organized the business community. He also praised business leaders who stepped forward and purchased suites and club seats for the Canucks, and then consented when asked by the Grizzlies to increase their commitment on their suites. Although Vancouver is a hockey town, the SUN's MacDonald said, "The town is talking about the Grizzlies." Still, Tsumura calls the NBA a "brand new game in town" and for Vancouver fans "it is almost like buying into something on faith." ORGANIZATION: "The Grizzlies always knew they had a selling job and they got their organization in place and went about their business," according to MacDonald. Griffiths, who is looking for an investment partner for the team, received high marks from the media for his organizational skills. MacDonald: "They come across as a very slick, well organized, franchise." Tsumura agrees that the organization is well run, giving kudos for bringing in Magic Johnson for an appearance and an ownership guarantee for a full refund if the customer is not satisfied with the performance of the team. Likewise, GM Stu Jackson has kept a high profile, making appearances and being a front-man for the team in advertising. Tsumura: "Jackson has really done the job and gotten out there." CORPORATE HELP: The team has been active in the corporate community. Spectra Foods Restaurant Group signed a deal that included the purchase of 300 season-tickets. Leiweke said it has been untraditional corporate help, those "who might not buy a media package or a sign in the arena." Although Spectra is not engaging in cross-promotions, Leiweke did say the deal "sparked the imagination of other companies." There are reports this week that both Shopper's Drug Mart and Overwaitea grocery stores are close to making a significant corporate ticket purchase. The team is currently in discussing a media deal, but nothing is signed. OVERALL: Tsumura compares Vancouver with NBA expansion franchises, such as the Magic. MacDonald: "Orlando had a full year longer to sell 10,000 tickets and they went right to the end. If you gauge it that way, for Vancouver being a non- basketball town, the 9,000 they have sold is quite a good number." Lieweke on the NBA's deadline: "It is not fair for me to sit here and pass judgement. We only had one choice and that was to rise to the challenge. ... Certainly, if you look at the last expansion with 10,000 tickets and here you come into a market where there has not been a ton of NBA exposure in the market place, it is really quite amazing that they would rise to this challenge" (THE DAILY).




