New Bucks Owners Open To Local Investors Sources: Islanders Draw New Suitors Colts To Remain With Irsays Long Term Herb Kohl Sells Bucks For $550M Kohl Praised For Dedication To Milwaukee Arthur Blank, Atlanta Officially Awarded MLS Team Raptors Unveil New "We The North" Campaign NBA Kings Reaping Benefits Of New Owners Franchise Notes Bruins, Celtics Headed In Opposite Directions
Upcoming Conferences and Events
WINNIPEG CITY COUNCIL VETOS TAX EXEMPTION FOR JETS DONORS
Published July 28, 1995
The Winnipeg City Council defeated a motion to grant charitable tax status to an endowment fund set up by the Spirit of Manitoba to cover losses for the Jets until a new arena is built, according to today's WINNIPEG FREE PRESS. Mayor Susan Thompson, warned the vote could cost taxpayers nearly C$18M, as the team may now be sold and moved with the city responsible for next year's debt. Councilman Jae Eadie, a one-time supporter who voted against, said his vote was symbolic of Spirit's failure to live up to a promise to raise the necessary money to buy the team in exchange for public arena financing (WINNIPEG FREE PRESS, 7/28). IS THE SPIRIT WILLING? Spirit President Cam Osler, whos group claims to have over C$42M raised towards an endowment, said they will proceed with three options: continue to raise funds without a charitable ruling and approach the council at a later date; find another vehicle for getting a tax break; or admit the attempt to save the Jets has failed (WINNIPEG FREE PRESS, 7/28).