SBD/19/Franchises

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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).
    
    

    Print | Tags: Boston Celtics, Fleet Financial, Franchises
  • 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).
    
    
    

    Print | Tags: LA Angels, Anaheim Sports, Franchises, Los Angeles Dodgers, News Corp./Fox, Walt Disney
  • 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).
    
    

    Print | Tags: Franchises, Kansas City Royals
  • 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).
    
    

    Print | Tags: Baltimore Orioles, Franchises
  • 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).
     
    

    Print | Tags: Franchises, Minnesota Twins
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