SBD/30/Finance

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  • INTEL AND MITSUBISHI BUY STAKE IN SPORTSLINE USA

              Intel Corp. and Mitsubishi Corp. have agreed to buy
         "substantial stakes" in FL-based SportsLine USA, according
         to David Poppe of the MIAMI HERALD.  SportsLine said Intel
         agreed to buy 537,634 shares of stock and Mitsubishi agreed
         to buy 215,054 shares for $9.30 per share.  Together, the
         two companies would invest $7M into SportsLine in exchange
         for a 5.5% ownership stake.  Their purchase would be part of
         SportsLine's IPO of 3.5 million shares, in which SportsLine
         "anticipates" other investors paying $10 per share.  One
         analyst told Poppe that the commitments from Intel and
         Mitsubishi "may help sell the IPO to other investors who
         have shied away" from SportsLine.  Poppe adds that
         SportsLine originally "hoped to raise at least" $40M in its
         IPO, but the latest prospectus says that figure has been
         "scaled back" to $35M (MIAMI HERALD, 10/30).
    
    

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  • SUN-SENTINEL LOOKS AT FINANCIAL IMPACT OF SERIES ON SOUTH FL

              The "financial windfall" from hosting four World Series
         games "could run" $88M for the Marlins and other businesses,
         according to Horn & Fins of the Fort Lauderdale SUN-
         SENTINEL.  The following numbers, all in millions, come from
         Marlins economic analyst Jeff Ross (SUN-SENTINEL, 10/28).  
         
    
    INDUSTRY
    DIRECT
    SALES
    INDIRECT
    SALES
    TOTAL
    SALES
    Marlins
    $19.86
    $43.44
    $63.31
    Hotels
    5.6
    6.27
    11.88
    Restaurants/Bars
    2.26
    2.194
    4.46
    Transit
    1.98
    2.09
    4.07
    Entertainment
    1.74
    1.76
    3.5
    Retail Stores
    0.346
    0.491
    0.836
    Laundry, etc.
    0.147
    0.024
    0.171
    OVERALL
    $31.96
    $56.28
    $88.24

    Print | Tags: Finance, Miami Marlins
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