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THE BUCS SALE: ... AND THEN THERE WERE THREE
Published January 11, 1995
Steve Story, spokesperson for the three-man trust in charge of selling the Buccaneers, said yesterday the trust is in "active negotiations" with three prospective buyers --Orioles Owner Peter Angelos, Palm Beach financier Malcolm Glazer, and a group represented by Jacksonville attorney Terry Moore. Story added that they have not "closed the door on accepting additional offer" (Buccaneers). This raised speculation that the trust may continue to hold on to the team, as there are questions regarding each ownership group. Sources told the Baltimore SUN that the trust appears to be "focusing their efforts on the bids from Angelos and Glazier," but that the trust has "concerns with all the bids." Questions surround Glazer's "financing plan" and "track record of exploring but not closing team purchases." Angelos' bid contains "a number of contingencies," and there are doubts if the NFL would approve him as owner or the relocation of the team. Angelos' investment group includes fellow Orioles partner and novelist Tom Clancy, and Angelos has said if cross- ownership is a problem he would "allow another investor to head the effort" (Jon Morgan, Baltimore SUN, 1/11). This morning's St. PETERSBURG TIMES reports that all three prospective groups have ties to Baltimore, as Malcolm Glazer and Baltimore attorney Robert Schulman, a key investor with Terry Moore, have both tried in the past to bring teams to Baltimore. Orlando pencil manufacturer Gino Pala said he submitted an $150M offer to the trust on Tuesday, but admitted that the trust would likely be "disappointed in the bid" (Topkin & Testerman, ST. PETERSBURG TIMES, 1/11).