SBD/8/Franchises

LIGHTNING CREDITOR MAY RESTRUCTURE CONTRACT FOR DAVIDSON

          A day after sales talks with the Lightning "appeared to
     stall," Pistons Owner William Davidson's group "made some
     inroads Thursday by receiving 'favorable response' from a
     major creditor perhaps willing to restructure terms of an
     existing contract," according to Ira Kaufman of the TAMPA
     TRIBUNE.  Pistons President Tom Wilson would not identify the
     Lightning creditor or discuss details.  Besides SunTrust
     Bank, "major" Lightning creditors include the NY-based
     Teachers Insurance and Annuity Association, the NHL, Sunshine
     Network and New York Life Insurance Co. (TAMPA TRIBUNE, 5/8). 
     Accountants for Davidson spent Wednesday studying the
     Lightning's finances.  Pistons VP/PR Matt Dobek: "That (debt)
     number changes almost daily, and that's what's scary" (Doug
     Stanley, TAMPA TRIBUNE, 5/7).  Attorney Stephen Wayne, who is
     representing Lightning parent company Kokusai Green,
     confirmed that Davidson tendered an offer for the team,
     rights to the Ice Palace and adjacent land along Garrison
     Channel (Ira Kaufman, TAMPA TRIBUNE, 5/7).    

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