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CFL NOTES: RIDERS, POSSE SET FOR A MIDNIGHT SHOWDOWN
Published February 28, 1995
CFL Commissioner Larry Smith is reportedly in negotiations with prospective owners for both the Las Vegas Posse and Ottawa Rough Riders in an effort to avert a midnight deadline to "pull the plug on both teams." In Ottawa, Don Campbell reports that Smith flew to Jackson, MS, on Monday for a "make or break" meeting with Elliot Maisel, a prospective owner of the Rough Riders. Maisel has pledged to keep the team in Ottawa. According to league sources, the Rough Riders owe nearly $1M to 160 creditors. A new owner would have to agree to take on the debt (Don Campbell, OTTAWA CITIZEN, 2/28). The Posse face a $3M debt, and league officials are trying to "convince the creditors to take pennies for dollars" so that the team can be moved to Milwaukee, Jackson or L.A (Vancouver PROVINCE, 2/28). TIGER-CATS TO MEOW AGAIN: Creditors for the Hamilton franchise have agreed to a proposal that will eventually give them 20 cents on every dollar owed. The removal of the debt "paves the way" for new owner David MacDonald and his partners to take control (Mike Ganter, TORONTO SUN, 2/28).