CFL UPDATE: JACKSON GROUP BIDS FOR POSSE, CHEN WANTS RIDERS

     A Jackson, MS, group attempting to buy the CFL Las Vegas
Posse says it has satisfied a Friday deadline and deposited $3M
in an escrow account toward purchasing the team.  The bid may be
approved later this week at CFL Board of Governor meetings in
Saskatoon, Sask.  The group, which is said to have the "blessing
of Posse ownership," includes MS state Rep. Jim Evans, Cleveland
investor Dane Mathews, AL-based investment broker Billy Lyons and
"an unidentified majority partner."  A source close to the talks
said the deal "is pretty much a go" (CP/Toronto GLOBE & MAIL,
3/7).  In Ottawa, representatives of Chicago restauranteur Horn
Chen filed a letter of intent yesterday to buy the Rough Riders.
Chen's representatives met with CFL Commissioner Larry Smith for
"last-ditch" negotiations.  A deal for the team is necessary
before the CFL meetings.  If no agreement is reached, the CFL
will likely suspend the team, at least for the '95 season (Don
Campbell, OTTAWA CITIZEN, 3/7).