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SHENKAROW SAYS THAT JETS DEAL TO MN COULD COME TODAY
Published May 10, 1995
Jets Owner Barry Shenkarow told the WINNIPEG FREE PRESS that a sale of his team to MN-based investors would be announced today. The sale price was expected to be in the $65M range. In Minneapolis, health care entrepreneur Richard Burke said an announcement of the sale was "reasonably imminent." Dana Warg, Manager of the Target Center: "The offer was made on Saturday. I don't know exactly when the deal will be announced, but I know it's close." One "hurdle" was cleared yesterday when the Minnesota Sports Facilities Commission recommended to the MN State Legislature that is pass a funding package to help buy the franchise. That is expected to be worth $10-$20M and could be passed by the end of the week. Burke: "It's down to haggling now" (Scott Taylor, WINNIPEG FREE PRESS, 5/10). CFL and IHL franchise Owner Horn Chen reportedly submitted a bid to purchase the team and move them to Hamilton. Chen and his group of investors reportedly offered $65M to Shenkarow with another $25M "targeted" for the Maple Leafs for territorial rights (Gary Picknell, TORONTO SUN, 5/10).