New Nuggets, Avalanche and Pepsi Center Owner Bill
Laurie said yesterday at a press conference that he "won't
micro-manage" the teams but that he will be involved in all
of the "important decisions," according to Bob Diddlebock of
the DENVER POST. Laurie, who said the Nuggets' potential
and Avalanche's success "prompted" him to acquire them:
"I've been looking at different sports teams over the last
four to five years, and I was waiting for the right fit.
The Denver opportunity ... had the most potential to build
great sports teams." Diddlebock notes that Laurie "politely
and concisely" answered reporters' questions yesterday, and
said that he and his family will continue to reside in
Columbia, MO, where they breed horses. But he did emphasize
that he will be a "hands-on" owner despite plans to leave
the day-to-day operations up to Ascent Entertainment Chair &
CEO Charlie Lyons, who is leaving the company to join
Laurie's new sports venture. Although both Laurie and Lyons
admitted that the Pepsi Center comprised about $140M of the
$400M deal, neither "would assign individual values" to the
Nuggets or Avalanche. Sources have estimated the Nuggets
sale price at $180M and the Avalanche at $80M. Laurie said
the inclusion of the Pepsi Center, which is "expected" to
generate $45M in revenue when it opens next season, "was a
major part of the transaction." He has no plans to make any
management changes at the team level (DENVER POST, 4/29).
IS SOMETHING FISHY? Meanwhile, a Denver-based Ascent
shareholder "had questions about how hard" Ascent searched
for a buyer for the teams and arena. The shareholder: "I
don't think (Lyons) screwed the deal, but you have to wonder
how hard they beat the bushes for buyers. ... Who's Bill
Laurie? A rich guy who wants something to play with?"
Lyons said that he "wasn't privy" to any of Ascent's
dealings after he announced he was leaving to become
Laurie's partner six weeks ago, and added that the Lauries'
bid was the highest Ascent had received (DENVER POST, 4/29).
MOVING MOUNTAINS: The deal for Ascent also netted
Laurie a stake in Denver-based TV production company
Mountain Mobile Television, in which the Nuggets hold a 33%
interest. The company offers technological support to live
telecasts of Nuggets, Avalanche and Rockies games and also
produces Jazz and Royals telecasts (DENVER POST, 4/28).
