In a "sweeping reorganization of the Ravens' front
office," team President David Modell is "attempting to
operate the cash-strapped team in a more efficient,
businesslike manner by appointing four group operating
heads," according to Vito Stellino of the Baltimore SUN.
The four group heads now reporting to Modell are VP/Player
Personnel Ozzie Newsome, VP/PR Kevin Byrne; Team Treasurer
Luis Perez and Facilities Manager Chuck Cusick. Stellino:
"Each department head will work with a specific budget." In
the past, Modell described the team's budget as "a little
bit more amorphous than certainly it is now." The team is
"watching their spending closely because" they are $185M in
debt and recently received a "bridge loan" of $65M from the
league. NFL Commissioner Paul Tagliabue "seemed pleased
with the team's current fiscal approach": "They're
monitoring their own spending because of their desire to run
a tight ship." Ravens Owner Art Modell praised the move,
calling his son one "one of the best operating heads in the
league right now." David Modell said that he and his father
"made a joint decision" to chose Deutsche Banc Alex. Brown
as the team's investment banker over John Moag, the former
MD Stadium Authority Chair and current Sports Industry Group
Managing Dir at Legg Mason. David Modell: "This was not an
easy decision." Art Modell: "John Moag still remains our
friend. So does Chip Mason. Sometimes you have to make a
decision and go with it" (Baltimore SUN, 7/29).
