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).
