SBD/26/Franchises

GETTING THE STORY ON THE BUCS SALE

     Bucs trust spokesperson Steve Story, the man who negotiated
the sale of the team, said new team Owner Malcolm Glazer can
expect losses of up to $10-15M per year on his new investment.
In comments in this morning's ST. PETERSBURG TIMES, Story says
Glazer's agreement to assume the team's long-term liabilities
prevented the team from being sold to out-of-town interests.  The
liabilities included deferred player contracts, signing bonuses,
pension, and other business expenses.  Story: "We were facing a
real problem in that groups we felt were going to relocate the
team were offering in the neighborhood of $200-million and
agreeing to assume all liabilities.  All of a sudden we were
looking at a deal of $175-million plus the assumption of
liabilities."  Story maintains the $25M was a big difference "to
try to justify off-setting the risk of litigation from the NFL
for relocating the team."  Story confirmed the possibility of
"substantial losses," adding that "something has to be done with
respect to building a new stadium" (Rick Stroud, ST. PETERSBURG
TIMES, 1/26).
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