Ascent Entertainment CEO Charlie Lyons "went on paid
leave Wednesday and will not be returning to the top job,"
according to Penny Parker of the DENVER POST. New Acting
CEO Chuck Neinas is now responsible "for creating stability
for a high-profile company whose sports assets are up for
sale, again." Neinas: "One of the concerns I have in the
position I occupy is making the sporting public aware this
is a problem at the corporate level. We're not
disadvantaging the ability of the Avalanche and the Nuggets
to be successful. The Pepsi Center opens in 99 days from
(Wednesday). We need to be on target to get that facility
open." Meanwhile, Parker reports that Bill and Nancy Laurie
"are prepared" to offer more than their $400M initial bid
"to fend off other bidders" for the teams and arena. A
statement issued by the couple yesterday stated, "We
continue to stand by our acquisition offer and hope and
expect to complete the purchase of the teams and arena."
The Lauries initial statement mentioned that they had
"reached an amicable agreement" with Lyons "regarding all
contractual relationships" and that Lyons "has no ownership
interest or employment contract with us." A subsequent
version of the statement "dropped any mention of Lyons."
Bill Laurie met with NBA execs on Tuesday and "won their
approval" to be the Nuggets new owner and the Lauries also
received approval from the NHL to acquire the Avalanche
(DENVER POST, 6/24). Neinas "takes comfort from the fact
that the Lauries are still keeping their bid on the table."
Neinas: "That gives us the assurance that we have one valid
purchaser." Other possible bidders include CO business
execs Bjorn Erik Borgen and George Gillett. Triarc Chair
Nelson Peltz may also bid (ROCKY MOUNTAIN NEWS, 6/24).
A "C" PERFORMANCE: In Denver, Don Knox gives Neinas a
"C" as a "crisis manager," and writes that his answers
"aren't always satisfying." The biggest problem the company
faces is "regaining Ascent's credibility with investors and
the public," but Ascent "drifts on in crisis mode,
deflecting most questions about the past even as it proceeds
apace toward an uncertain future" (DENVER POST, 6/24).
