Sources within the Expos ownership group say
"everything is still on track for new ownership and a new
stadium," by the conclusion of a 150-day grace period for
team Chair Jacques Menard and his consortium to find a buyer
for the franchise, according to Jack Todd of the Montreal
GAZETTE. The grace period expires in early March. Of two
potential new U.S.-based majority partners, "one has now
emerged as the clear favourite," and is "willing and able to
invest between" US$50 to US$100M and to "take over as
managing partner, with the active involvement of his son."
Menard has also "lined up" at least C$40M in new local
investments. Expos President Claude Brochu "is still the
biggest obstacle to a new ownership deal," as the Menard
group attempts to reach a deal for his 7.5% share of the
team. Brochu is seeking a return of what the team is worth
in the open market, about US$150M, while Menard and his
partners want something similar to the US$75M price for the
Royals earlier this year. One member of Menard's group said
he "would consider mid-January the drop-dead date" for
reaching an agreement with Brochu (Montreal GAZETTE, 12/15).
