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VANCOUVER'S GRIFFITHS DIPPING IN THE RED?
Published March 6, 1995
Grizzlies/Canucks owner Arthur Griffiths may be having "cash flow problems," according to William Houston of the Toronto GLOBE & MAIL. Griffiths owes the NBA $112M for the Grizzlies' franchise fee (payable once there is a CBA with the players), and his new C$160M arena, GM Place, is rumored to be at least C$30M over budget. The Canucks are no longer paying interest on the amount they owe ticket holders due to missed lockout games, but "seem in no hurry to return the funds." Ticket holders have the option of leaving their funds with the team and using the funds for playoff tickets. The opening of a new sporting goods store at the arena has also been delayed, and a buying trip for the store was cancelled because the team "didn't have" the C$400,000 needed for stock orders (Toronto GLOBE & MAIL, 3/4).