SBD/6/Franchises

MAPLE LEAF GARDENS LOOKS FOR REVENUE AMID INTERNAL BATTLES

     Maple Leaf Gardens President Cliff Fletcher wants to bring
indoor soccer, arena football and other events to the facility in
an effort to bring in more revenue.  Fletcher told the company's
stockholders that high salary costs for the Maple Leafs
necessitate the need for more revenue.  Thanks in part to the NHL
lockout, MLG lost C$1.06M last year (TORONTO STAR, 10/6).
Meanwhile, at yesterday's stockholder meeting, one shareholder
was given an "enthusiastic ovation" after denouncing the takeover
of the company by CEO Steve Stavro.  When one investor rose in
praise of Stavro, another asked "What planet did you come from?
He's trying to take your shares" (William Houston, Toronto GLOBE
& MAIL, 10/6).  Stavro, who currently controls 91% of MLG shares,
has made an offer to buy out remaining shareholders at C$34 a
share.  MLG shares currently go for C$43 on the TSE.  A court
ruling currently bars Stavro from acquiring any more shares
(GLOBE & MAIL, 10/6).
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