SBD/6/Franchises

VANCOUVER'S GRIFFITHS DIPPING IN THE RED?

     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).
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