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AS CLOCK WINDS DOWN IN MN, POHLAD TRIES FOR A BUZZER BEATER
Amid a "political show of force," legislators, corporate and union leaders and the mayors of both Minneapolis and St. Paul "unveiled a plan" to transfer Twins ownership from Carl Pohlad to a nonprofit foundation, according to Jay Weiner of the Minneapolis STAR TRIBUNE. The plan is "tied to" building a new ballpark using Twins and Vikings players' income taxes, user fees, and new state lottery games. The "two-pronged proposal" will be introduced as a bill when a special session reconvenes next week. As part of the donation plan, Pohlad would give to the foundation the $37M in equity he's had since his '84 purchase of team, and would also transfer to the foundation the $86M in "debt and interest costs" he has incurred. The foundation would sell the team "within three to five years to citizens via a stock offering or to a local investment group" and at that point Pohlad's debt "will be paid off to his creditors." Any sale profits over and above the debt "will go to the foundation, not Pohlad," and should the team sell for "less than" $86M, Pohlad would have to "reimburse the foundation." Pohlad would "continue" to manage the team and would "cover the team's losses" in the Metrodome during the four years it would take to build the new park; losses during that time period won't be paid back through the foundation (STAR TRIBUNE, 11/7). The deal also calls for an "irrevocable" 30-year lease (PIONEER PRESS, 11/7). HOW IT PLAYED: Reaction to the new proposal in the Twin Cities was mixed, with "neither solid stadium supporters nor the hardened naysayers ... confident" about the outcome of next week's special session (Jim Ragsdale, ST. PAUL PIONEER PRESS, 11/7). A PIONEER PRESS editorial: "It might be the sweetest deal ever from a team owner. ... Pohlad clearly has gone above and beyond what is expected of an owner in this situation" (ST. PAUL PIONEER PRESS, 11/7). -
FRANCHISE NOTES
NBA: In Atlanta, 41,122 tickets were sold as of yesterday afternoon for tonight's Bulls-Hawks game at the Georgia Dome, making it the largest crowd ever for a basketball game in Georgia (ATLANTA CONSTITUTION, 11/7). ...Amid reports that Chargers Owner Alex Spanos is interested in buying the NBA Kings, Kings Owner Jim Thomas told the SACRAMENTO BEE's Mark Kriedler that he has "no intention of selling the Kings now" (SACRAMENTO BEE, 11/6). MLB: In Baltimore, an editorial on Orioles Owner Peter Angelos, following the resignation of Manager Davey Johnson: "Peter Angelos is a man whose Horatio Alger story deserves to be the foundation of a legacy as rich and warm and grand as Baltimore. He is a man being dragged to earth by his cold, petty distractions" (Baltimore SUN, 11/7)....The MLB Giants' plan to raise ticket prices for all lower-level seats at 3Com Park next season was "unanimously approved" by the city's Parks and Rec Commission yesterday. Prices for lower box MVP seats will increase from $21 to $24, while lower box seats will increase from $16 to $18. Also, lower reserved goes from $13.50 to $15, senior lower reserved seats rise $1 and bleacher seats rise $0.50 (S.F. CHRONICLE, 11/7)....The Astros said ticket prices will remain the same for 65% of their seats in '98, increasing only for Diamond Level, Star Deck, Field Level and Loge Level seats (Carlton Thompson, HOUSTON CHRONICLE, 11/7)....The MLB Cardinals unveiled an "eye-catching" new practice jersey, a new dugout jacket, and a new "Sunday Cap." In St. Louis, Dan O'Neill: "The red in the redbirds will be a little deeper shade ... the lines will be heavier" (ST. LOUIS POST DISPATCH, 11/5). GENERAL: In DC, Thomas Heath examines NFL teams' earnings potential at the gate due to new facilities, focusing on the Redskins. Redskins President John Kent Cooke: "We are now in a new era" (WASHINGTON POST, 11/7). -
LOCAL BIDDER PULLS OUT OF OILERS BIDDING
Edmonton city developer Robert Proznik announced yesterday that he was "no longer in the running" for the NHL Oilers, according to Jac MacDonald of the EDMONTON JOURNAL. Proznik said that he was withdrawing his former offer for the team and endorsing efforts by the other Edmonton buying group (EDMONTON JOURNAL, 11/7). In Edmonton, columnist Cam Cole, on the Oilers' unsettled ownership situation: "It is time for the National Hockey League to come out of the woodwork and speak plainly. Past time, actually, but better late than never" (EDMONTON JOURNAL, 11/7). -
NEW COLUMBUS NHL TEAM WILL BE INSECTS WITH "ATTITUDE"
The name of the new Columbus NHL expansion team will likely be the Blue Jackets, according to Wright & Merz of the COLUMBUS DISPATCH. A source told the DISPATCH that the team is "95 percent sure" of the name and that the primary team color "will be blue." The logo will feature an insect with a hat on and the hat "could be a Union Army hat." The source: "It's an insect with an attitude. That's the best way I can say it" (COLUMBUS DISPATCH, 11/7) -
NO JOY IN MUDVILLE FOR WORLD CHAMPS AS HUIZENGA TO SELL TEAM
Eleven days after winning the World Series, Wayne Huizenga is "unloading" the Marlins to a group headed by team President Don Smiley, according to Larry Lebowitz of the Fort Lauderdale SUN-SENTINEL. Huizenga and Smiley said on Thursday that they are trying to close a deal in the next 30 days. They "refused to name a price, but Smiley is thought to be raising" $160M -- $150M to buy the team and another $10M for working capital. Once Smiley closes the deal with Huizenga and receives MLB approval, "his next step will be trying to win a new stadium financing package and tax breaks from local and state legislators." Smiley: "If not, we have to make the next decision. We should know where we are by mid-1998 [when the state Legislature meets]" (SUN-SENTINEL, 11/7). In Miami, Barry Jackson reports that the Marlins will cut their $49M payroll, "likely" to the $20-25M range. Smiley said he is about two-thirds of the way toward meeting Huizenga's asking price, but his bid "does not appear at risk." Huizenga said that Smiley will be given 30 days to secure additional funding, and if it helps close the deal, he said he will retain a minority interest. Smiley will also have other options, including borrowing from Huizenga or a bank, or promising deferred payments in a year or two. Huizenga: "I'm going to do anything to make this work" (MIAMI HERALD, 11/7). STADIUM PLAN: If the Marlins don't have a commitment for a new ballpark by mid-'98, Smiley said that they would "start looking at other options" including selling or moving the team (Lebowitz & Lynch, SUN-SENTINEL, 11/7). -
WHALE OF A TALE: REPORT SAYS ORCA BAY DISMISSING GRIFFITHS
Orca Bay Sports & Entertainment, the parent company to the Canucks, has told former Canucks Majority Owner Arthur Griffiths to "clear his office" at GM Place and "cut his ties" with the team, according to David Shoalts of the Toronto GLOBE & MAIL. Although Griffith is "still listed" as the team's Vice Chair and alternate Governor of the Canucks, sources told Shoalts that the team told Griffiths to be "out of the building by next week." Kevin Bass, VP/Communications & Community Investment for Orca Bay, "denied" that Griffiths was told to leave, saying that his departure was a "possibility." Griffith would "neither confirm nor deny" the story, but he "made it clear" that the "only thing left in his relationship" with Orca Bay is the three years left on a consulting contract and that he's "not being consulted for anything" (GLOBE & MAIL, 11/7).




