Franchises

KINGS EXPLAIN THEIR FINANCIAL POSITION

9.26.1995

     The L.A. Kings have sent a letter to suppliers informing
them that with the team's sale comes a "conconcurrent voluntary
filing of a Chapter 11 petition."  The letter calls the filing
"strategic" and says it is in order to "protect the franchise and
its new owners from possible legal entanglements resulting from
Bruce McNall's ownership of the team."  The letter, signed by CFO
Michael Handelman, says the team anticipates "no impact on the
team's day-to-day operations," but due to legal restrictions they
will be prohibited "from paying anyone, including suppliers, for
past due amounts" (THE DAILY).

PREVIOUS FRANCHISE NOTES NEXT VIKINGS, UNDER LEASE UNTIL 2012, WANT CHANGES AT DOME

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