Rockets Owner Les Alexander has a deal to help Tom
Clancy buy the Vikings, "with a contingency he may acquire
the team and move it to Houston should Clancy ever sell it,"
according to a front-page piece by John Williams of the
HOUSTON CHRONICLE. Rockets spokesperson Angela Blakeney said
yesterday that Alexander has reached an "agreement in
principle" with Clancy to become a limited partner in his
investors group. Two sources said that Alexander would spend
$50M to buy 25% of the Vikings, and in return, he would have
the "first right" to buy Clancy's controlling 30%, "which
could free Alexander to move the Vikings to Houston" (HOUSTON
CHRONICLE, 5/14). In Minneapolis, Sid Hartman reports that
Alexander would own 40% of the team and contribute $80M under
the financial plan Clancy presented to the NFL Monday.
Clancy, who one member of the NFL Finance Committee said is
investing about $5M, would control the Vikings' voting stock.
Although Clancy has said he would not move the team, NFL
sources "say that Clancy's group is balking at language in
the purchase agreement that would prohibit the Vikings from
breaking their lease and moving out of town once the sale is
complete." The Vikings' lease does not expire until 2012,
but current team owners have said the lease could be bought
out for about $30M (Minneapolis STAR TRIBUNE, 5/14). Clancy
spokesperson Marc Ganis, asked if Alexander will have the
right of first refusal and could move the team: "That part
doesn't sound right" (ST. PAUL PIONEER PRESS, 5/14).
NO SOUP FOR YOU? In Minneapolis, Hartman also reports
that Vikings co-Owner John Skoglund said if the sale to
Clancy isn't approved by the NFL, the team "might be taken
off the market." As for moving to Houston, Hartman writes
"the league won't let that happen" (STAR TRIBUNE, 5/14).
FOOD FOR THOUGHT: In Minneapolis, Terry Fiedler reports
that Minnesota Vikings Food Service (VFS) "will be a major
factor in any deal" Clancy or anyone else makes on the
Vikings. VFS is owned by the same holding company that owns
the team and generates annual revenue of $35M. The new
Vikings ownership group could sell VFS and get $18-24M, and
the proceeds could be "applied against the overall price tag"
of the Vikings sale (Minneapolis STAR TRIBUNE, 5/14).
