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BUCS I: TWO NEW ENQUIRING MINDS INVESTIGATE AN OFFER
Published January 5, 1995
"It has come to this. The people who bring you the supermarket tabloids like the NATIONAL ENQUIRER and THE STAR want to buy" the Buccaneers. Yesterday, team trustee Steve Story met with Peter Callahan and Michael Boylan, the Chair and Vice-Chair of the Enquirer/Star Group, Inc. one of the country's largest publishing groups. The two are interested in buying the team and keeping them in Tampa. The new group surfaced just two business days before the trust is to decide whether to accept a reported $160M offer from local investors Tommy Shannon and Outback Steakhouse execs Chris Sullivan and Bob Basham. Story stressed that Callahan and Boylan did not appear on behalf of Enquirer/Star Group, "but are interested in making an individual investment." Story: "Our session was a preliminary one. If they have an interest in pursuing this matter, they will contact us again" (Stroud & Testerman, ST. PETERSBURG TIMES, 1/5). PENCIL MAGNATE NOT READY TO INK A DEAL: Orlando pencil "baron" Gino Pala said yesterday he believes the three-man trust overseeing the sale will reject every offer and hold on to the team. Pala: "They've got a number in mind that they intend to get, and if it comes in one cent less, they can sit on it. I don't think the trustees can get hurt by keeping control of the team." MA-based developer Socrates Babacas is believed to have the financing in place to make a $185M offer for the team as early as today. Florida citrus "heavyweights" Earl Crittenden and Gene Langley reportedly are partners in Babacas' effort to buy the team. Babacas said he is willing to put a $5M deposit in escrow to guarantee he will not move the team (Pugliese & Kaufman, TAMPA TRIBUNE, 1/5).