While the bid to keep the Jets in Winnipeg "has to be put
together in less time than people spend buying a house," the
Spirit of Manitoba "shed little light" on its C$222M proposal to
buy the team and build an arena (Julian Rachey, WINNIPEG FREE
PRESS, 7/20). At a press conference yesterday, Spirit leaders
called for Manitobans to "rally to the cause" and turn C$61M in
pledges into cash, as well as raise an additional C$20M before
the August 15 purchase deadline. The Spirit outlined plans for
two classes of supporters. Those investing in the limited
partnership would get tax breaks, a profit margin and an asset,
while those donating to the endowment fund would only get a
limited tax break. Anyone investing less than C$5,000 will be
placed in the endowment fund. Spirit President Cam Osler said
the basis of the plan is to ensure that no matter what happens to
hockey in Winnipeg, the city will be left with a new arena and a
C$61M endowment fund to operate it (Paul Samyn & John Douglas,
WINNIPEG FREE PRESS, 7/20).
IZZY OR ISN'T HE? CanWest Global Communications head Israel
"Izzy" Asper yesterday made public his threat to walk away from
the Jets effort, citing Spirit's change in his rescue plan that
would have used public donations, rather than selling shares in
the team. Spirit members said Asper's public stance came just 24
hours after he said he would lead the ownership group to New York
today to meet with NHL Commissioner Gary Bettman and discuss the
change in ownership, which the NHL has to approve (Douglas &
Samyn, WINNIPEG FREE PRESS, 7/20).
