Print All

              The July 1 deadline for the A's to exercise a year-to-
         year lease option at the Oakland Coliseum "may be delayed
         while team owners try to work out a host of issues with
         Oakland and Alameda County officials," according to Hickey &
         Counts of the OAKLAND TRIBUNE.  A's Owners Steve Schott and
         Ken Hofmann "want to negotiate a way to avoid offering the
         team up for sale at a discounted price -- as required in
         their lease -- and still take the short-term lease option." 
         Giving notice on July 1 will allow the team to play year-to-
         year through 2000, but it also "involves a gamble," for if
         they give notice, the Coliseum Authority "will have four
         months to find a buyer" that would keep the team in Oakland
         for a sale price of 90% of the team's market value.  Schott
         said that he and Hofmann have talked about putting the team
         up for sale "a lot lately, but no decision has been made
         yet."  City and county officials have met with the A's once
         to "resolve" the $48M claim the team has filed against both
         entities.  Oakland Vice Mayor Ignacio De La Fuente said that
         pushing back the deadline "could buy time to reach a
         resolution" to the dispute (OAKLAND TRIBUNE, 6/17).

    Print | Tags: Franchises, Oakland Athletics

              MLB Rangers President Tom Schieffer said yesterday that
         TX Gov. George W. Bush turned his $600,000 investment in the
         team into at least $15M, according to Slater & Oppel of the
         DALLAS MORNING NEWS.  Bush was among a group of investors
         who bought the Rangers for $86M nine years ago.  For Bush,
         "whose name has been floated as a potential GOP presidential
         candidate in 2000," the Rangers deal "is by far the most
         lucrative investment" in his business career.  Bush paid
         $606,000 for about 1.8% of the team, but because he served
         as Managing General Partner, his stake rose to 12%. 
         Schieffer said that Bush received $14.9M from the sale and
         he could collect another $1-2M in final accounting.  Bush's
         profits are two-fold: he received $2.7M strictly for his
         partnership interest, and the agreement also called for
         Bush, as Managing General Partner, "to receive added
         compensation if the team were sold for anything above a
         modest profit" (DALLAS MORNING NEWS, 6/18).  

    Print | Tags: Franchises, Texas Rangers

              VIKINGS: San Antonio business exec Red McCombs, on his
         interest in the Vikings: "Why I am I interested in
         Minnesota?  Because that's where the team is.  There aren't
         many teams, and this is one that's for sale, and this is one
         that I believe has great potential.  But I have absolutely
         no thought that the Vikings should be anywhere but
         Minnesota.  Do I see that they have some problems, some
         obstacles?  Yes.  Somehow, they are going to have to enter
         the era of new facilities" (Minneapolis STAR TRIBUNE, 6/18).
         ...Former Vikings QB Tommy Kramer "would like to play a role
         in the Vikings organization" if his friend McCombs
         successfully bids for the team 1 (STAR TRIBUNE, 6/18)....In
         Minneapolis, Jerry Zgoda reports that members of the
         Metropolitan Sports Facilities Commission "endorsed" T-
         Wolves Owner Glen Taylor as their pick to become the
         Vikings' next owner (Minneapolis STAR TRIBUNE, 6/18).
              NOTES: In Baltimore, last night's crowd of 48,269 was
         the largest for a regular-season game in Camden Yards
         history, and the 144,318 total for the Yankees-O's series
         was the best ever for a three-game series (SUN, 6/18).
         ...Pat Croce yesterday said he had reached a handshake deal 
         with 76ers Chair Ed Snider to return as team president
         (PHILADELPHIA INQUIRER, 6/18)....The NHL Kings will unveil
         new uniforms Saturday.  One of the models is Patrick
         Warburton -- Puddy on NBC's "Seinfeld" (L.A. TIMES, 6/18). 

    Print | Tags: Comcast-Spectacor, Franchises, Los Angeles Kings, Minnesota Vikings, NBC, New York Yankees, Philadelphia 76ers
Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug