SBD/27/Franchises

HEAT SALE CLOSE TO CONCLUSION

     "A deal to wrest control of the Heat from partners Lewis
Schaffel and Billy Cunningham is on the verge of being
completed," according to this morning's MIAMI HERALD.  The deal,
brought together by Micky Arison, whose family owns the majority
of the team, would allow the five remaining limited partners to
buy out Schaffel and Cunningham.  Arison's attempts to reach an
agreement have been impeded by a lawsuit filed by Whit Hudson,
who tried unsuccessfully to purchase managing control of the team
for $60M.  One source close to Hudson said that "Hudson's
motivation now is to assist Micky Arison to straighten out the
team's confused management structure."  Hudson:  "Our lawsuit is
still in place, but we've been talking to the Arisons to try and
get something settled" (Reed & Marvez, MIAMI HERALD, 1/27).
Return to top

Related Topics:

Franchises, Miami Heat

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug