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WHALERS REPORTEDLY REJECT ROWLAND'S "FINAL" OFFER

          The Whalers believe the state of CT's offer to build a
     $150M arena in downtown Hartford "is not enough," and is
     looking for the state to cover "all or part of its operating
     losses while the arena is being built," according to Keating
     & Swift of the HARTFORD COURANT.  CT. Gov. John Rowland and
     Whalers Owner Peter Karmanos met on Tuesday and "agreed that
     negotiations will continue in the effort to save" the
     state's only major league franchise.  Keating & Swift note
     the Whalers' losses could amount to $45M during a three-year
     construction period.  Rowland's spokesperson, Dean Pagani
     called the Whalers' concerns about losses during the arena's
     construction period "a major problem" (HARTFORD COURANT,
     3/26).  The AP is reporting that Rowland "was expected to
     respond today" to reports the team has rejected the state's
     offer.  A source close to the talks said the "biggest
     obstacle was the state's unwillingness" to cover the Whalers
     anticipated losses (AP/BOSTON GLOBE, 3/26).
 

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