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).
