Two Jets fans launched a new Web site yesterday at
BuytheJets.com "to collect millions of dollars" in a bid to
buy the team, according to Luke Cyphers of the N.Y. DAILY
NEWS. Though Web site co-Founder John Crotty said that the
move "is not some goof," supporters of the site "concede
they are a long shot" because NFL rules limit public
ownership of teams to 25 investors. The site is "asking"
200,000 fans to submit an online form "saying they'll each
chip in a few hundred bucks toward a goal of at least" $180M
to acquire a controlling interest in the Jets, who could be
sold for "as much as" $500M. If there is enough interest
"to mount a bid" for the team, Crotty said that the group
"is prepared to challenge" the league's rules in court. NFL
VP/Communications Greg Aiello: "While the group's interest
and enthusiasm is flattering, it's a long shot" (N.Y. DAILY
NEWS, 8/18). In N.Y., Richard Wilner reports that the site
has already "amassed more than" 1,000 names, with an average
pledge of $500. Meanwhile, prospective Jets buyers began
receiving confidentiality agreements from Goldman Sachs &
Co. to sign "so that later this month they can receive the
Wall Street book on the team's and the NFL's finances" (N.Y.
POST, 8/18). The estate of late Jets Owner Leon Hess "is
expected to begin accepting bids for the team in a matter of
weeks" (Oliver & Glauber, NEWSDAY, 8/18). NFL Commissioner
Paul Tagliabue: "I'm going to try to get an update this week
when I meet with [Leon Hess's son] John Hess and get a
status report of where they are" (N.Y. TIMES, 8/18).
