SBD/9/Franchises

TWO LAWSUITS COULD DELAY NBA'S APPROVAL OF RAPTORS SALES

          Maple Leaf Gardens [MLG] might find that the NBA's
     approval of the Raptors sale "is not a slam dunk," according
     to David Shoalts of the Toronto GLOBE & MAIL.  Shoalts:
     "That's because the NBA governors have some questions, a
     number of which have been raised by one lawsuit in the wake
     of the sale and by another that is expected to be filed this
     week."  The first lawsuit was filed by former Raptors Owner
     John Bitove and "concerns the concession rights at the Air
     Canada Centre."  The second lawsuit, "expected to be filed
     this week in Toronto by former Gardens shareholder Harry
     Ornest," will raise "a number of issues," including plans to
     make a public offering of shares in MLG.  MLG Minority
     shareholder Larry Tannenbaum said that MLG doesn't expect
     the sale to be rejected by the NBA, nor has the company
     considered going public at this point (GLOBE & MAIL, 3/9).

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