SBD/9/Franchises

ABL GRANTS LEAGUE VP RICKARD AN OPTION TO PURCHASE POWER

          The ABL "has given the option to buy the operating
     rights" to the Portland Power to the league's Senior VP,
     Rodger Rickard, according to Jason Quick of the Portland
     OREGONIAN.  Rickard has five years to exercise the option. 
     Operating rights cost in the $3.5M range, but ABL CEO Gary
     Cavalli said that Rickard "would be offered a discount price
     because he invested several millions" into the league in
     September.  Rickard, a former CA real estate entrepreneur,
     said that he might purchase the rights at the end of '98:
     "It all depends on how well the league is progressing along
     its path."  Quick: "Rickard's actions will be interesting to
     watch. ... If he buys the operating rights to the Power,
     fans have to feel good about the league's future.  But the
     longer he holds out, the more unsteady the league seems." 
     If he exercises his option, Rickard would control the team's
     marketing, local broadcasts, ticket sales, sponsorships and
     staffing, while the ABL would still own the team and pay its
     players (Jason Quick, Portland OREGONIAN, 12/8).

Return to top

Related Topics:

Franchises

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug