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  • PIRATES MAY HAVE ANOTHER BIDDER

         Kevin Vaughn, an investment advisor who "struck out" in an
    attempt to buy the team last fall, has reportedly talked with
    officials from Wertheim Schroeder, the New York investment bank
    which is handling the Pirates' sale.  Vaughn, the CEO of Sterling
    Acquisitions, said he is "still working on assembling a group of
    investors."  Adelphia Communications Chair John Rigas, who had
    offered $85.15M for the team, is "still weighing changes" to his
    offer to make it more acceptable to Pirates ownership.  Vaughn is
    among "three known prospective buyers" to join the process since
    Rigas' bid came into question.  Other suitors include Penguins
    owner Howard Baldwin and Capital Baseball Inc., a Northern VA
    group that is bidding for an expansion team (Steve Halvonik,
    PITTSBURGH POST GAZETTE, 3/1).
    

    Print | Tags: Franchises, Pittsburgh Penguins, Pittsburgh Pirates
  • RIDERS IN A STORM: 119-YEAR-OLD FRANCHISE NEARING THE END?

         The Ottawa Rough Riders lost their most promising ownership
    candidate yesterday when AL-based businessman Elliot Maisel
    reconsidered a tentative deal to buy the club after looking at a
    league audit, according to this morning's OTTAWA CITIZEN.  A CFL
    source told the paper Maisel backed out after and finding "the
    financial picture of the team is worse than Maisel and the league
    first imagined."  The team, which owes about C$1M to "unsecured"
    creditors and C$500,000 to the league, has already spent another
    C$500,000 from funds earned through season ticket sales for next
    season.  The team also has committed to C$500,000 in sponsorship
    deals for the '95 and '96 seasons.  A meeting scheduled for this
    week between Maisel and CFL Commissioner Larry Smith has
    apparently been cancelled.  While the deadline for the sale of
    the team was yesterday, the team "really has until March 9-10,"
    when the CFL's Board of Governors meets in Saskatoon, Sask.
    Before the CFL meetings next week, The league "will likely"
    approach Chicago restauranteur Horn Chen and FL developer Norton
    Herrick.  "If an owner can't be found by next week, it is likely
    the 119-year-old franchise will fold, or, at least, have
    operations suspended for the 1995 season" (Don Campbell, OTTAWA
    CITIZEN, 3/1).
    

    Print | Tags: CFL, Franchises
  • SENATORS ANNOUNCE TICKET PRICES FOR NEW ARENA

         The average price for Senators tickets will drop once the
    team moves into its new arena next January, the team announced
    yesterday.  Ottawa fans will pay from C$15 to C$97 a ticket to
    see a game after the team moves from its current Civic Centre
    home to the 18,500-seat Palladium.  While the high end tickets
    will be costlier at the new facility and the low-end tickets
    cheeper, average prices will drop.  The average ticket price for
    seats in the new facility will be C$43.56, compared to the
    C$48.62 average fans will pay for next season's games in the
    10,500-seat Civic Centre.  This year, the Senators' average
    ticket price is C$46.20.  Only 430 seats at the Palladium will be
    available for C$15; after that, the next lowest price will be
    C$23.99 a ticket.  Senators' Owner Rod Bryden points out that the
    team's prices at the new facility are lower than 16 of the 26 NHL
    teams' prices this season.  Bryden stressed that Senators tickets
    include a C$2 surcharge to repay the Ontario Government for
    building access to the new arena.  Bryden: "Our objective is to
    deliver a wining NHL hockey team in a world-class facility, at a
    price our fans feel is fair and that they can afford" (Michael
    Prentice, OTTAWA CITIZEN, 3/1).
    

    Print | Tags: Franchises, NHL, Ottawa Senators
  • T-WOLVES GM MCCLOSKEY TO RETIRE; MCHALE AS SUCCESSOR?

         "One of the worst-kept secrets in Twin Cities sports was
    made official" yesterday when Timberwolves GM Jack McCloskey
    announced that he would retire at the end of the season.
    Speculation had existed for months that McCloskey, nearing the
    end of a 3-year contract, would not return next season.
    Assistant GM Kevin McHale has been considered the "heir
    apparent."  But last night, McHale "deflected talk of a
    promotion":  "Being a general manager in the NBA was never a goal
    of mine.  When you say it, it's not like bells and whistles go
    off in my head.  It's way too premature to discuss it."  McHale
    reportedly turned down recent "feelers" from Raptors GM Isiah
    Thomas to become Toronto's first head coach (Steve Aschburner,
    Minneapolis STAR TRIBUNE, 3/1).
    

    Print | Tags: Franchises, Maple Leaf Sports and Entertainment, Minnesota Timberwolves, NBA, Toronto Raptors
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