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).
