SBD/15/Franchises

LAST DITCH EFFORT IN WINNIPEG HAS ALL-BUT-A-DONE- DEAL

     Health care entrepreneur Richard Burke "bought the right" on
Friday to move the Jets to MN, but a new Canadian-based group has
until Thursday to put together a package to keep the team in
Winnipeg, according to the Minneapolis STAR TRIBUNE.  Burke:  "We
don't own the team. ... If the team is moved, they've accepted
our offer."  One NHL source put Burke's offer at about $65M.
Burke said he has one partner thus far, Bermuda-based insurance
exec Steven Gluckstern -- but the Naegele family is expected to
be involved in any deal.  As for possible public aid, Burke said,
"One step at a time."  On Thursday, MN Gov. Arne Carlson capped
any state aid at $15M.  But, noting that the MN Legislature is
set to adjourn on May 22, Target Center Exec Dir Dana Warg said
that the time delay "could have an adverse effect" in getting a
deal (Jay Weiner, Minneapolis STAR TRIBUNE, 5/13).
     LAST GASP?  The effort by Jets Owner Barry Shenkarow to keep
the team in Winnipeg is described by John Douglas of the WINNIPEG
FREE PRESS as a "reconfiguration of the original plan" of the
Manitoba Entertainment Complex.  This time, however, instead of
linking the team and a new arena, the city, provincial and
federal governments will cover the C$110M needed for a new
16,000-seat arena, while a private sector group -- led by CanWest
Global TV head Izzy Asper -- will cover the costs (past, present
and future) of the team (WINNIPEG FREE PRESS, 5/13).  Sources say
that Asper has agreed to purchase naming rights of the new arena
for CanWest for C$20M.  Asper's group would purchase the Jets'
privately held shares (with the exception of Shenkarow's) for
C$50M, pay off about C$15M in current debt and establish a pool
of C$45M to cover future losses.  Shenkarow would stay on as team
president.  The governments would each pay C$37M for the arena,
which would be owned by the public but leased to the team
(Douglas & Samyn, WINNIPEG FREE PRESS, 5/13).  Asper admitted
Saturday that chances of success are "remote" (WINNIPEG FREE
PRESS, 5/14).
     TWIN CITIES NOTES:  Vikings President Roger Headrick
indicated a desire to renegotiate their Metrodome lease with the
Metropolitan Sports Facilities Commission should an NHL team get
public aid.  Headrick:  "First, they had to finish the Target
Center deal.  Then Target Center has become the NHL, which then
becomes the Twins.  And the Vikings are always next in line."
The Vikings' lease runs through 2012.  Under a joint Twins-
Vikings plan, the teams would take over Dome operations and
control virtually all revenues (Jay Weiner, Minneapolis STAR
TRIBUNE, 5/14)....STAR TRIB columnist Dan Barreiro writes, "We
should know this by now:  Never count on anything until the
moving vans have arrived, or been recalled" (Minneapolis STAR
TRIBUNE, 5/14).... Carlson said he would call a special
legislative session on the Jets if necessary (Minneapolis STAR
TRIBUNE, 5/15).
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