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JETS' FUTURE IN WINNIPEG STILL UNCERTAIN
Published June 15, 1995
At a news conference in Winnipeg yesterday, Spirit of Manitoba Chair Mal Anderson said he recognized that getting NHL approval for the sale of the Jets "may be one of the toughest challenges the new group faces." NHL approval is one of the conditions set for the sale to be finalized (CP/VANCOUVER SUN, 6/15). According to NHL VP of Public Relations Arthur Pincus, the league will undertake a "fairly intensive review" of the proposed ownership restructuring. The league will be looking for "financial wherewithal" from any new owners, "a solid commitment to a new building" and indications of "sound management" of the club. Pincus said that he "could not predict" if the league would or could approve the deal by the August 15 deadline (David Roberts, Toronto GLOBE & MAIL, 6/15). In his "Truth & Rumours" column, William Houston reports that Mike Largue, a New York investor who heads a group of Swiss businessmen "keen" on buying the Jets, has spoken with Jets Owner Barry Shenkarow about purchasing the team for $70M. (Largue says that he would keep the team in Winnipeg for two years). Shenkarow reportedly told Largue "if an agreement could not be reached with the Winnipeg consortium, he would deal only with a Minnesota group" (Toronto GLOBE & MAIL, 6/15). CASUALTIES OF THE DEAL: If the deal with Spirit goes through, Barry Shenkarow and his partners will reportedly have "no further interest" in the franchise (CP/VANCOUVER SUN, 6/15). In Toronto, Lance Hornby reports that Jets GM John Paddock may also be a "casualty" if the Spirit group takes over (TORONTO SUN, 6/15).