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FRANCHISE NOTES
NBA: The off-the-court troubles of the NBA Wizards are examined by Mike Wise on the front-page of the N.Y. TIMES. Wise reports that the Wizards' "informal contract with the city has turned out to be worse than the empty cliche it has often been elsewhere. ... [F]or many fans in the city, the Wizards, rather than an example of rebirth, have been one more expensive failure" (N.Y. TIMES, 4/14). In S.F., David Steele wrote that crowds at the MCI Center "are dwindling and growing hostile," while the "immediate future of the franchise is suddenly grim" (S.F. CHRONICLE, 4/14)....The T'Wolves, who had a 96% season-ticket renewal rate last year, are finishing current renewals and project a rate of 92%-93% (ST. PAUL PIONEER PRESS, 4/14). NOTE: Columbus, OH, investors in the NHL Blue Jackets "won a major victory" when a federal judge ruled that a legal dispute over ownership of the team must be tried in Franklin County, OH, Common Pleas Court. The trial is expected to begin April 20 (COLUMBUS DISPATCH, 4/10). -
JAMMED AT THE JAKE: INDIANS SELL-OUT REMAINDER OF '98 SEASON
The Indians have sold-out individual game tickets for the rest of the '98 season. The Indians consecutive home sellout streak now stands at an MLB record 211 straight games (Indians). In Boston, Peter Gammons called the Indians' IPO "troublesome because it sends a message that it isn't enough to sell out the ballpark every night, have creative sources of revenue, and provide one of the most entertaining teams in the business. So what does that say about Detroit and Milwaukee when their parks open?" (BOSTON GLOBE, 4/13). In Cleveland, Glenn Gamboa reported that in the Indians' public offering application with the SEC, the team said it earned $100,000 from ad sales on their Web site, www. indians.com, in '97 (PLAIN-DEALER, 4/13). MLB NOTES: Reggie Jackson said that he and a group bid $300M to buy the Dodgers last year, but lost out when team Owner Peter O'Malley accepted the $311M bid from Rupert Murdoch's Fox Group (NEWSDAY, 4/13)....Expos President Claude Brochu, on team payroll: "We'll double the payroll next year and again the year after" (N.Y. TIMES, 4/13). -
LAKERS REMAIN PART OF MAGIC'S KINGDOM; AGENT PLANS IN LIMBO?
Magic Johnson "has decided not to sell" his 5% stake in the Lakers and "instead will remain in his current position that also includes" the title of VP, according to Scott Howard-Cooper of the L.A. TIMES. Johnson was looking to sell his stake "to divest himself of NBA holdings as a prerequisite to the planned opening of a sports management firm," which Howard-Cooper writes is "either history or on the back burner" (L.A. TIMES, 4/14). -
RED SOX PONDER STOCK SALE, MAY OFFER A PIECE OF NEW FENWAY
The Red Sox are "seriously considering" a public stock sale that would give buyers a piece of a new Fenway Park "but not the team," according to Will McDonough of the BOSTON GLOBE. While the Red Sox "do not want to give up any part of the team [they] would jump at an opportunity to sell stock in a new park if they felt it would give them a major financial boost" (Will McDonough, BOSTON GLOBE, 4/11). HUB NOTES: The Celtics have sold out 13 consecutive games at the FleetCenter, and 19 of their last 21 (THE DAILY). The GLOBE's McDonough added that with the success of the Celtics and Bruins this season, FleetCenter President Richard Krezwick "is breathing a little easier." Many of the original premium seat-holders have three-year contracts which expire August 31, and with both teams struggling last year, "renewals didn't look promising." Now, Krezwick said he is expecting 100% "renewals on the suites" (BOSTON GLOBE, 4/11). However, hockey writer Kevin Paul DuPont said the fact that the B's are averaging about 3,000 below capacity at the FleetCenter shows "that the average Boston hockey fan, contrary to decades past, won't put up an average of $50 to see just a good product" (BOSTON GLOBE, 4/11). -
REPORT HAS DOLAN BROTHERS EYEING POSSIBLE BID FOR THE BROWNS
Cablevision Chair Charles Dolan, a Cleveland native, "has met with NFL officials and intends to file an application to own" the expansion Browns with his brother, Lawrence Dolan, according to Grossi & Lubinger of the Cleveland PLAIN-DEALER. NFL rules forbid corporate ownership or cross-ownership of teams in other pro leagues, unless the teams are in the same market, but the Dolans "intend to own the Browns as a family enterprise." Charles Dolan: "There is no strategic reason for (Cablevision) to be involved with the Browns. Our interest has nothing to do with Cablevision." The Dolans are the fourth group to come forward as candidates to own the Browns. Lawrence Dolan, a corporate lawyer who lives in suburban Cleveland, said the brothers "would not need partners," but they would not rule out "some strategic alliances that would be appropriate." Charles Dolan, on a potential $500M expansion fee: "All of this is subject to reasonableness. If it becomes unreasonable, obviously we can't do it" (PLAIN-DEALER, 4/9). NEWSDAY's Feigenbaum & Sanger reported that the Dolans "are preparing to bid about" $350M (NEWSDAY, 4/10). NO BID BY LERNER? In Akron, Terry Pluto wrote that he's heard that MBNA Chair Al Lerner "is reluctant to make a bid for the Browns. His family does not want him to end up on the public stage where he would be subject to another round of criticism about his involvement with Art Modell's move to Baltimore" (AKRON BEACON JOURNAL, 4/12). -
WITH ESTATE SETTLEMENT, JOHN KENT COOKE SET TO BUY REDSKINS
The estate of former Redskins Owner Jack Kent Cooke has "agreed to pay" his widow $20M to settle her challenge to his will, according to Finn & Shear of the WASHINGTON POST. The settlement provides Marlene Ramallo Cooke with financial security, and "ensures that most" of Kent Cooke's estate, which is estimated at $500M-825M will go to a charitable trust, as he had instructed. The agreement "also will make it easier" for Redskins President John Kent Cooke to purchase the team from the charitable foundation, since legal experts had speculated that if Marlene Cooke's lawsuit had been successful, the team might have been sold to "generate the cash to pay her off." John Kent Cooke said the settlement "allows me to pursue my plans to purchase control of the Redskins" (WASHINGTON POST, 4/14).




