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CITIZENS THE FRONTRUNNER TO BECOME CELTICS' BANKER
The Celtics "are likely to move their business to Citizens Financial Group," sources familiar with the talks tell Charles Stein of the BOSTON GLOBE. The team is "on the verge of severing their relationship" with Fleet Financial Group. Yesterday BankBoston "dropped out of the race" for the team's account. BankBoston Exec VP Ira Jackson: "We looked hard at the numbers and simply couldn't make them work" (BOSTON GLOBE, 9/19). -
FRANCHISE NOTES
Thursday's paid crowd of 52,140 at 3Com Park for the Dodgers-Giants game was the Giants' largest since July 26, 1994, and marked their first back-to-back crowds of more than 50,000 since July 26-27, 1994 (SAN JOSE MERCURY NEWS, 9/19)....Walt Disney's ownership of the Angels is profiled by Stefan Fatsis of the WALL STREET JOURNAL. Disney "has been frustrated by low attendance, failed marketing efforts, unbending ownership rules, and a team that, like Angels of yore, has faded down the stretch. In un-Disney fashion, the team expects to lose around $15 million this season, on top of $12 million in 1996" (WALL STREET JOURNAL, 9/19). -
K.C. BANKER WANTS ROYALS; WILL TEAM SHOW HIM THE BOOKS?
K.C. banker and car dealer Jerry Green said Thursday that he wants to buy the Royals, according to Charles Crumpley of the K.C. STAR. Green, who says he has assembled a group of "wealthy investors" whom he would not identify, leads the third publicly known group interested in buying the team, and Royals execs said yesterday that one other K.C. family, "which they would not identify," is a fourth ownership candidate. Yesterday Green "complained" that the Royals' top execs "refused to show him the financial records of the team." Royals execs, however, "expressed frustration with Green." Crumpley reports that because the Royals are operating under a special IRS ruling, they "cannot negotiate with only one person. Instead, the team must hold an auction, at which time all potential bidders would see the books." The Royals' board of directors "have been leaning toward waiting until next year" to hold the auction "when the team may profitable and, therefore, may fetch a higher bid" (K.C. STAR, 9/19). The directors have three years left on their "six-year clock" to find a local buyer (AP, 9/19). -
ORIOLES WILL SHOW PROFIT FOR FIRST TIME UNDER ANGELOS
The Orioles said they will have an operating profit of "at least" $10M this year, according to Mark Maske of the WASHINGTON POST. Orioles Vice Chair/Business & Finance Joe Foss said that this will be the "first time" in Peter Angelos' four seasons as Managing General Partner that the team will turn an operating profit. The size of the Orioles' '97 operating profit "will depend upon how far they advance during the postseason" -- from $10M for one postseason home game to approximately $17M if the team advances to the World Series and plays the maximum 10 postseason home games (WASHINGTON POST, 9/19). -
POHLAD CALLS TWINS-TO-NC TALKS THE "REAL DEAL," NOT A "PLOY"
A "feisty" Carl Pohlad said Thursday that his effort to sell the Twins to NC businessman Don Beaver is "no bluff," according to Jay Weiner of the Minneapolis STAR TRIBUNE. Pohlad, after meeting with Beaver for the third time in two days: "This is a real deal. We're moving ever closer to an agreement." Asked if the negotiations were "a ploy to pressure" the MN Legislature to build a new ballpark, Pohlad said, "Nothing could be further from the truth. Why would I go through the charade of doing all this, if it's a phony deal, of spending hours and hours on this? I don't care whether people believe me or not. I'm going about my business" (Minneapolis STAR TRIBUNE, 9/19). FRIENDS IN HIGH PLACES: In MN, Sid Hartman writes that Pohlad has "many good friends in the banking business in Charlotte." Hartman: "Pohlad seldom makes a deal unless he gets something thrown in. If the Twins wind up in Charlotte, it wouldn't be a surprise if Pohlad receives stock in one of the big banks there" (STAR TRIBUNE, 9/19). MORE BALLPARK WOES? In MN, Robert Whereatt writes that the possibility of "legislative consensus on one financing plan" for a new Twins ballpark "seems to be drifting away." Gov. Arne Carlson, who "has pushed" for a new ballpark, expressed "some dismay Thursday when asked if it could be turned around" (Minneapolis STAR TRIBUNE, 9/19).




