SBD/16/Franchises

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  • ANGELOS NFL BID WOULD HAVE BEEN SWEETER THAN MODELL'S DEAL

         A copy of an uncompleted draft agreement between Orioles
    Owner Peter Angelos and the Maryland Stadium Authority for the
    purchase of the Bucs showed the state's investment could have
    been up to $20M more than the $200M projected for Baltimore's new
    NFL team, according to the Baltimore SUN.  The agreement was
    dated January 10, 1995, but Malcolm Glazer bought the team six
    days later and the deal was never ratified by the MSA.  Included
    in the deal is a $3M payment where the state would have become a
    limited partner in the team.  MSA's contribution would have also
    included $10M in expenses and the agreement would have allowed
    Angelos to sell naming rights to the stadium.  Art Modell's
    agreement with MSA prohibits him from selling stadium naming
    rights.  Angelos declined to comment on the agreement but former
    MSA Chair Herbert Belgrade disputes critics who say Modell's deal
    is more lucrative to his team than offers made to other teams,
    adding, "They may get less."  Other differences included allowing
    the Bucs unrestricted use of PSLs, while Modell is limited to
    $80M, and a state reimbursement to Angelos' investment group of
    up to $2.5M in legal fees and $10M for paying NFL fees and buying
    out the lease in Tampa.  Modell will pay such fees through PSL
    sales (Jon Morgan, Baltimore SUN, 2/16).
         BACK TO THE PRESENT:  Officials of the Baltimore NFL team
    have tentatively made mid-March their target date to begin moving
    from their training complex in Berea, OH, to their new, but
    temporary, headquarters in Owings Mills, MD.  Today is the
    deadline for the city and surrounding counties to submit
    proposals for the team's new headquarters and training complex.
    Team VP David Modell said no deadline has been set by the club or
    NFL Properties on a name or color scheme (Mike Preston, Baltimore
    SUN, 2/16).
    

    Print | Tags: Baltimore Orioles, Franchises, NFL, Tampa Bay Buccaneers
  • FRANCHISE NOTES

         The AHL Cornwall Aces have announced that the city of
    Cornwall, Ontario, has decided to terminate its contract with the
    team at the end of the season.  Mayor Ron Martelle said the city
    was unable "to continue the financial commitment necessary to
    operate an AHL franchise."  The Aces will address the future of
    the club soon (ESPNET, 2/15).... The city of Baltimore is among a
    number of creditors suing CFL owner Jim Speros over debts
    incurred during the Stallions' stay.  The city is seeking
    $435,782 it claims it is owed on a defaulted loan for Memorial
    Stadium improvements.  Speros says he intends to pay all
    creditors once a $2.75M loan from Canadian officials is approved
    (Baltimore SUN, 2/16).... Today was the deadline for prospective
    Devil Rays season ticket holders to pay a 25% deposit to maintain
    their priority number.  How many of the 4,000 accounts and 15,000
    seat reservations were paid for won't be known for a few weeks,
    according to Devil Rays Dir of Sales and Marketing Mike Seamon
    (TAMPA TRIBUNE, 2/16).... The Jaguars have decided to opt out of
    their training camp contract with Univ. of Wisconsin-Stevens
    Point.  They will train instead in Jacksonville.  The school is
    talking with the Rams to take the Jaguars' place (MILWAUKEE
    JOURNAL SENTINEL, 2/16). ....T-Wolves Ticket Sales Manager Jeff
    Munneke, on demand for tonight's sold-out Bulls game:  "If we put
    this game in the Metrodome, we could easily sell 50,000 tickets.
    No question" (Minneapolis STAR TRIBUNE, 2/16)....In Seattle,
    Angelo Bruscas examines the reception Ken Behring has received in
    L.A. since announcing his intention to move.  L.A. City
    Councilman Mike Hernandez:  "It was a total surprise ... the
    proper groundwork wasn't there."  Behring spokesperson John
    Eckel, of Hill & Knowlton:  "Once this is all settled and the
    legalities are cleared away, you're going to see a tremendous,
    tremendous amount of support come out down here" (SEATTLE POST-
    INTELLIGENCER, 2/15).
    

    Print | Tags: AHL, CFL, Chicago Bulls, Franchises, Jacksonville Jaguars, Minnesota Timberwolves, St. Louis Rams, Tampa Bay Rays
  • LEAFS DENY CHARGES OF LIMITING TV REVENUE TO HELP OWNER

         Maple Leafs President Cliff Fletcher responded to reports
    that MLG Ltd. "passed" on as much as C$70M in added TV revenue,
    thus enabling Owner Steve Stavro to purchase the company more
    easily.  According to yesterday's FINANCIAL POST, Fletcher called
    the claims "an unadulterated crock." The issue of TV revenue is
    central to the case of the Ontario Attorney General and Office of
    the Public Trustee, who have challenged Stavro's control of MLG.
    According to court documents which surfaced in recent newspaper
    accounts, the Leafs "did not pursue significant money by
    reopening a clause in its broadcast contract with Molson
    Breweries."  According to Fletcher, while there were legal
    opinions that said the contracts could be reopened, there were as
    many that said they couldn't.  Fletcher cited the fact the team
    hired IMG's Barry Frank to negotiate the deal -- whom Fletcher
    considers the best in the business -- and said, "For anyone to
    suggest now that we didn't max out every nickel, I can assure you
    we did."  Fletcher also denied the claim that they kept out
    competition, namely Labatt.  Fletcher:  "I can tell you this
    much, our alternatives were very limited" (Steve Simmons,
    FINANCIAL POST, 2/15).
    

    Print | Tags: Franchises, IMG, Labatt Brewing, Maple Leaf Sports and Entertainment, Toronto Maple Leafs
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