SBD/13/Franchises

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  • BY GEORGE HE DOES IT! STEINBRENNER MAKES OFFER FOR BUCS

         Yankees Owner George Steinbrenner stepped to the plate
    yesterday as he submitted an 11th hour offer to buy the Bucs.
    Steinbrenner, who offered a reported $170M-$180M for the team,
    said "he is the organizer of the group, but not the majority
    partner."  NFL rules prohibits cross-ownership with other major
    pro sports teams, but Steinbrenner said, "We have handled that
    within our group so that is not going to be an issue."  He refused
    to disclose any of his partners, although they are to believed to
    include former Chrysler Chair Lee Iacocca, Twins Owner Carl
    Pohlad, billionaire investor Lester Crown, and Steinbrenner's two
    sons.  The Yankees owner would not disclose numbers, only saying:
    "I don't go into it unless I think it's right.  It's the right
    price."  Bucs trust spokesperson Steve Story called the bid "a
    competitive offer, but it's a different kind of offer."  He said
    it would be considered along with the three other bids already on
    the table (Marc Topkin, ST. PETERSBURG TIMES, 1/13).  On the "CBS
    Evening News" last night, Steinbrenner reiterated his hope to keep
    the team in Tampa: "To lose the pro football team would be
    devastating.  Because it would be a stigma that would be attached
    to this community that we wouldn't lose quickly" (CBS, 1/12).  The
    bid by the Steinbrenner group came as the trustees "apparently
    were nearly ready to accept" an estimated $192M offer from Palm
    Beach financier Malcolm Glazer.  Steinbrenner, on whether his
    offer was competitive with Orioles Owner Peter Angelos: "I don't
    like to lose, whether it's to the Orioles or Peter, who is a
    worthy competitor."  Local officials praised the bid, but
    Steinbrenner "shrugged off" suggestions he is Tampa's savior: "I'm
    not a white knight.  I'm a gray-haired old man" (Henderson &
    Pugliese, TAMPA TRIBUNE, 1/13).
    

    Print | Tags: Baltimore Orioles, CBS, DaimlerChrysler, Franchises, Minnesota Twins, New York Yankees, NFL, Tampa Bay Buccaneers, Viacom, YankeeNets
  • ITT AND CABLEVISION CLEARED FOR MSG DEAL

         Cablevision and ITT have been given approval to buy Madison
    Square Garden from Viacom.  The U.S. Department of Justice has
    approved the proposed $1.075B acquisition "without requiring any
    modifications to the sale."  MSG is the parent company for the
    Knicks and Rangers, and the deal still needs the backing of the
    NHL and the NBA to be finalized.  Teri Washington, a spokesperson
    for the NBA, said it was not clear whether a vote on the transfer
    of the Knicks will be held at the next Board of Governors meeting
    on February 13.  A team sale requires 3/4 approval from the NBA's
    27 team representatives.  A spokesperson for the NHL said a vote
    by that league could be "months away" (Elizabeth Sanger, N.Y.
    NEWSDAY, 1/13).
    

    Print | Tags: Cablevision, Franchises, Madison Square Garden, NBA, New York Knicks, NHL, Viacom
  • MOORES & LUCCHINO HOLD COMING OUT PARTY FOR NEW LOOK PADRES

         New Padres Owner John Moores and CEO Larry Lucchino held a
    news conference to speak on the state of the franchise.  Their
    $80M purchase of the team was approved on December 22, and they
    discussed what the future holds for "their small-market team."
    Moores said he has no intention of moving the team; he will hold a
    consulting position with the team and attend home games as "often
    as possible."  Lucchino, who  will run the day-to-day operations,
    said the club will "renew efforts to market the Padres in Mexico,
    and talked about making Jack Murphy Stadium more "user-friendly
    for Spanish speaking patrons."  Moores on buying the team during
    the strike: "I was a little nervous, frankly. ... But if I thought
    there was going to be a lot of fallout, I wouldn't be here"
    (Buster Olney, SAN DIEGO UNION-TRIBUNE, 1/13).  The two received
    high marks from columnist Tom Cushman:  "If Moores and Lucchino
    deliver as well as the personalities project, a pennant should
    soon be flapping atop a Mission Valley flagpole" (Tom Cushman, SAN
    DIEGO UNION-TRIBUNE, 1/12).
    

    Print | Tags: Franchises, San Diego Padres
  • WARM UP THE MOVING VANS; RAMS READY TO TAKE 1-70 EAST

         "Barring the unexpected, FANS Inc. plans a 2pm CST news
    conference Tuesday in St. Louis to announce" that the Rams intend
    to move.  However, there is "one hitch."  According to the ST.
    LOUIS POST-DISPATCH, FANS Inc., the civic group negotiating to
    bring the Rams to St. Louis, must sell 40,000 permanent seat
    licenses (PSL's) by the NFL owners meetings in March or the team
    has the option to stay in Anaheim.  That would give the group just
    about eight weeks to finalize the deal.  FANS has also pledged to
    sell 50,000 PSL's by the Rams season opener in September.  Upon
    completion of legal documents, and the final approval of Rams
    Owner Georgia Frontiere, the plans for the news conference call
    for MO- based businessman Stan Kroenke to be introduced as the new
    minority owner of the team.  Kroenke will reportedly pay up to
    $80M for 40% of the franchise.  The sale of the PSL's is vital, as
    the revenue will be used to pay off the cost associated with the
    team's move, including a relocation fee, and stadium improvement
    debts at Anaheim Stadium, the team's current home (Jim Thomas, ST.
    LOUIS POST-DISPATCH, 1/13).
    

    Print | Tags: Franchises, NFL, St. Louis Rams
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