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ANGELOS MEETS WITH BUCS AGAIN -- IS TAMPA LISTENING?
Published December 19, 1994
In the most aggressive talks to date, Orioles Owner Peter Angelos met with Buccaneer trustee Steve Story for three hours over dinner Saturday night at a private club in Baltimore. The two discussed the possible sale of the team to Angelos, who would move the Bucs to Baltimore. Angelos is reportedly offering close to $200M. Story hoped the meeting would send off an alarm to other prospective buyers: "It was very promising. Hopefully, everyone will get the message it's time to step up to the table. ... I'd like to get the ball rolling" (Gary Shelton, ST. PETERSBURG TIMES, 12/19). Story expects more discussions this week with representatives of Angelos to work on the final points of a deal, adding, "I think he is prepared to make an offer. I think it will be significant." Angelos agreed: "We're into the nuts and bolts negotiations. We're close to making the deal." Story said he will hold talks this week with other bidders, primarily groups who want to keep the team in the Tampa area (Jon Morgan, Baltimore SUN, 12/19). FRANCHISE ESTIMATE: Two financial analysts who spoke to the Baltimore SUN said that Angelos' offer of $200M is "not only reasonable, but also could go higher." The key for Angelos' high bid is the lucrative stadium deal being offered by the State of Maryland and the generous terms of the lease. An estimate by The SUN shows that a team in Baltimore could generate more than $85M in revenues and nearly $30M in pre-tax profits each year (Jon Morgan, Baltimore SUN, 12/19). The SUN's Vito Stellino asks of NFL Commissioner Paul Tagliabue's role in relocation: "Is it in the best interest to have a team losing money in a bad stadium in Tampa rather than making money in a new stadium in Baltimore?" (Baltimore SUN, 12/18). BUSINESS WEEK analyzes the Bucs sale, writing that "to keep the team in Tampa, local bidders may have to spend more than the team is worth there" (Bob Andelman, BUSINESS WEEK, 12/26 issue). HONK IF YOU LOVE THE BUCS! Hillsborough County Commission Chair Jim Norman said officials will be waving signs at major intersections Monday urging morning commuters to "pack" Tampa Stadium for the Bucs' season finale against Green Bay on Christmas Eve (TAMPA TRIBUNE, 12/17).