SBD/19/Franchises

WILL THE KINGS' FINANCIAL WOES SEND THE GREAT ONE NORTH?

     ESPN's Keith Olbermann reported Sunday night that the Kings'
financial situation "was so precarious during the season that the
NHL itself loaned several million dollars to the franchise to
keep it afloat."  Olbermann reported that sources "close to the
Kings' business operation," said that "deferred salary payments
to Wayne Gretzky have become such a hinderance to finding a new
owner that the league has discussed assuming those payments
itself or even dealing Gretzky off to a franchise willing to do
so -- possibly Toronto" ("SportsCenter," ESPN, 6/18).
     LEGAL UNEASE:  One contention of the lawsuit filed by the
bankruptcy trustee controlling Bruce McNall's assets is "to have
last year's sale of the Kings voided" because new co-owners
Jeffrey Sudikoff and Joseph Cohen "failed to live up to an
earlier agreement to put $20 million into the franchise" (Lisa
Dillman, L.A. TIMES, 6/17).
Return to top

Related Topics:

ESPN, Franchises, NHL, Walt Disney

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug