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  • THOMAS TOURS WALL STREET: BIG HURT TAKES CUT AT ATHLETE BOND

              White Sox DH Frank Thomas is negotiating with NY-based
         securities firm SPP Hambro & Co. for a sale of $20M of nine-
         year bonds which "will give him a large lump of untaxed
         money immediately, while reducing his share" of the $7M 
         annual salary he is set to collect through 2006, according
         to Dan Weil of BLOOMBERG.  Tony Decello, VP at Investment
         Advisors Int'l, said "he heard" that the Thomas bond will
         carry interest payments of 7.5% to 8%, "about the same as
         utility bonds with a junk rating of BB3."  Decello: "To
         borrow at 7-8 percent and invest and earn 10-12 percent --
         that's the play."  Weil wrote that the risks that must be
         taken to earn double-digit investment returns "cause some
         athletes' financial advisers to reject the bond idea."  Jan
         Plewes of Advantage Int'l: "We're conservative, so I don't
         see where we would advise doing it."  FAME co-Founder Curtis
         Polk also said that he wouldn't be interested in bonds for
         his clients.  A spokesperson for Thomas "wouldn't say how he
         will invest the proceeds from his bond sale" but one report
         said that Thomas "will use the money to fund his businesses,
         including a record label" (BLOOMBERG, 8/6). In N.Y., Richard
         Wilner confirms that Thomas' record label, Un-D-Nyable
         Entertainment, "is looking to expand" (N.Y. POST, 8/7).
    
    

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