Pat Gillick is part of a group led by Toronto lawyer
Lawrence Dale "poised to make a bid" for Interbrew SA's 90%
stake in the Blue Jays, 49% of SkyDome and 100% of the CFL
Argonauts, according to sources of Tony Van Alphen of the
TORONTO STAR. A source said that the group has "everything
ready to complete a transaction" and that Gillick "just adds
to their credibility" (TORONTO STAR, 11/29). Gillick: "I
wouldn't have come into this group unless it had sufficient
funds to complete the purchase" (TORONTO SUN, 11/30). But
Interbrew CEO Hugo Powell said that the team isn't for sale:
"We're not trying to sell the team" (TORONTO STAR, 11/30).
IS GILLICK THE RIGHT CHOICE? In Toronto, Dave Perkins
writes that despite Gillick's interest, the buyer for the
Jays that "makes the most sense" would be the Maple
Leafs/Raptors group and Minority Partner Larry Tanenbaum,
would could then package all three teams on their own TV
channel (TORONTO STAR, 11/30). Also in Toronto, Stephen
Brunt wrote that "when the dust has settled, it's a good bet
that Interbrew will have won control of the SkyDome,"
allowing them to "unload the team, unload the stadium and
concentrate" their energies on beer (GLOBE & MAIL, 11/28).
NEW LEASES ON LIFE: The Blue Jays announced on Thursday
that they have "agreed in principle" to a new 10-year lease
keeping them at SkyDome through 2008 (ESPN.com, 11/27). The
deal allows the team to gain a larger share of the revenue
it generates at SkyDome, with the amount increasing over the
life of the contract (Toronto GLOBE & MAIL, 11/28).
Meanwhile, an Ontario bankruptcy court granted C$3.5M in
"emergency funding" to SkyDome. SkyDome also asked for
approval to withdraw C$1.3M from a C$4.5M capital reserve
fund in order to upgrade the sound system, renovate its
hotel and pay bills (FINANCIAL POST, 11/28).
