SBD/3/Franchises

THE VERDICT IS IN -- OILERS SET TO SIGN LETTER OF INTENT

     The Oilers expect to sign a non-binding letter of intent
Thursday with the Nashville Metro Council that would signal the
beginning of the team's move to TN.  John Williams reports in
this morning's HOUSTON CHRONICLE that the city would have a
series of milestones to reach to attain the team by March.  If
those are met on time, the Oilers will seek NFL permission to
move.  As part of the agreement, as long as Nashville continues
to meet deadlines, the Oilers will not negotiate with any other
city.  Oilers VP Mike McClure told the CHRONICLE that "in
reality, negotiations are almost over."  McClure: "If we get this
done Thursday, there won't be any talking with Houston or any
other city."  Williams reports the tentative schedule Nashville
officials must meet includes:  Metro Council approval of a
financing plan by December 1 that would raise $105M-$140M; state
Legislature approval of $67M-$80M from potential Oilers sales tax
revenues by February; private PSL funding raised by March.
McClure said a study by PSL consultant Max Muhleman showed that
sales of PSLs in the area "would do quite well" (HOUSTON
CHRONICLE, 10/3).
     TIME TO REGROUP, RESET?  Houston Mayor Bob Lanier said
Monday the "best the region could probably offer" is a privately-
financed $125M open air stadium or refurbished Astrodome -- both
of which have been dismissed by Adams.  Lanier said he is putting
a committee together to discuss the city's need for new
facilities and what it would take to attract the NFL back if the
Oilers leave.  Williams notes that it will take a $275M-$300M
package similar to Nashville's to get the NFL back (HOUSTON
CHRONICLE, 10/3).
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Edmonton Oilers, Franchises, NFL

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