While ex-Browns QB Bernie Kosar "moves" to create a
business plan to finance Cleveland's future NFL franchise,
"a number of prominent names have surfaced as potential
investors" with Kosar, and "as competitors for the next
Browns team," according to Ed Meyer in the Akron BEACON-
JOURNAL. With Kosar leading one group, "sources" mention
potential investors such as Cleveland financier Al Lerner --
who could be Kosar's "main money man." Also mentioned is
Youngstown, OH-based The Cafaro Group, a $600M land
development firm, located near Kosar's hometown of Boardman.
The firm is a "potential heavyweight as a Kosar investor."
Cleveland Mayor Michael White is also seeking "minority
representation" in a new Browns ownership and Bill Cosby and
Oprah Winfrey have been mentioned as a group being "pushed"
by IMG. An IMG spokesperson said the firm has "nothing to
do with that." The BEACON-JOURNAL's Meyer adds the name of
Ford dealership magnate Ed Mullinax, who denies rumors that
he will sell his dealerships to Dolphins Owner Wayne
Huizenga and use the money to partner with Kosar in the
Browns effort (Akron BEACON-JOURNAL, 11/23).
NFL'S GUY: Meyer notes one "major obstacle is the
financial wherewithal of Kosar's investors, regardless of
his assurances that the least of his problems is raising the
estimated $300 million he will need to get an expansion
team." But the NFL has "inched forward in naming Kosar the
leading contender for ownership." NFL Dir of Communications
Greg Aiello: "We're aware of his interest." Kosar has hired
F. Carl Walter, President of the Chess Financial Corp., to
formulate a business plan. Kosar's three scenarios for a
new Browns team includes his own chances with an expansion
team, moving the Bengals to Cleveland or moving the Colts to
Cleveland (Akron BEACON JOURNAL, 11/23).
OUT WITH THE OLD: Cleveland Mayor White said demolition
of Cleveland Stadium, set to begin today, "will be completed
on schedule and within budget." Demolition was to have
started September 3, but "more asbestos than expected" was
found in the stadium. White said the project will be
completed by April of '97 (CHICAGO TRIBUNE, 11/25).
IN WITH THE NEW: Cleveland Stadium Marketing, the
group hired to sell luxury seats at Cleveland's proposed
stadium, has named Star Bank as its marketing partner for
the sale of club seats, according to Kristen Baird in
CRAIN'S CLEVELAND BUSINESS. Star Bank has agreed to pay a
rights fee to market the proposed 8,000 club seats at the
new stadium, which will entitle them to naming rights on all
club seat marketing material, including broadcast and print
ads as well as mailings to season ticket holders (CRAIN'S
CLEVELAND BUSINESS, 11/18 issue).
