Franchises

THOMAS SAID LETTER OF INTENT SIGNED FOR RAPTORS SHARE

2.25.1997

          Raptors VP Isiah Thomas has signed a letter of intent
     for his "small but well-connected" group of investors to buy
     an undisclosed amount of Majority Owner Allan Slaight's 80%
     of the team, according to Jim Byers of the TORONTO STAR. 
     Slaight "said he expects the deal to be done" by April, but
     that he'll continue to hold a "partial" stake in the team
     and stay on in a management role.  Byers: "Nobody is saying,
     but it's almost certain Thomas' group will wind up with
     majority control" (TORONTO STAR, 2/25).

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