Franchises

INSURANCE ON ADMIRAL, OTHERS WILL HELP OFFSET SPURS' LOSSES

8.28.1997

          Spurs Chair Peter Holt said Wednesday that about $5M in
     insurance money collected on four injured players "could
     offset the financial losses of a cellar-dwelling season,"
     according to Travis Poling of the SAN ANTONIO EXPRESS-NEWS. 
     Although the Spurs have not determined their final financial
     figures for the '96-97 season, Holt said that "he expected
     the numbers to reveal an operating loss" of about $4M.  But
     insurance payments on four injured players "would make up
     the difference,"  The Spurs paid about $2.35M in insurance
     premiums in '96 (SAN ANTONIO EXPRESS-NEWS, 8/28).

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