The Maple Leafs "are close to a dramatic deal" to buy
the Raptors and share a downtown arena, according to Jim
Byers of the TORONTO STAR. Sources said Raptors Majority
Owner Allan Slaight has agreed to the sale and that an
announcement "could be made as soon as today." If the deal
goes through, the Leafs would abandon plans to build a new
arena at Exhibition Place and join the Raptors at the Air
Canada Centre, scheduled for completion next February.
Byers reports that under terms of the deal, the Leafs would
take over the Raptors and be run by Leafs Minority Owner
Larry Tanenbaum (TORONTO STAR, 2/12). In Toronto, David
Shoalts reports that none of the principals in the deal
would confirm the talks, but a source said that the "best
indication" talks are under way is the "delay" by the
Raptors in announcing a deal with the IHL Roadrunners (GLOBE
& MAIL, 2/12). However, the SUN's Hornby & Bird report that
sources said the deal "has been put on hold after several
complicated business issues arose." Issues include how to
accommodate private boxes, season-ticket holders, sponsors
and "who will pay for what" (TORONTO SUN, 2/12).
