WA-based Orca Bay Sports & Entertainment "was spouting
full damage control yesterday" after the company "partially
took down the for sale sign" on the Grizzlies, Canucks and
GM Place, according to Grant Kerr of the Toronto GLOBE &
MAIL. After Orca Bay VP/Communications Kevin Gass said this
weekend that company Owner John McCaw "was prepared to sell"
the teams and the arena, Orca Bay President Stephen
Bellringer "insisted" yesterday that McCaw "was not about to
pull the financial plug" on the holdings "despite mounting
losses." McCaw now "would like to add" minority partners to
ease his debt load, though he "would still entertain the
possibility of unloading his entire Orca Bay holdings for
the right price," which is reported to be around the $460M
that Ascent Entertainment recently received for the Nuggets,
Avalanche and Pepsi Center. Bellringer: "John's plans are
to find a partner to come on board to share the business
with. There have been discussions with several interested
parties that want to buy various percentages of the entity.
... John will entertain (any offers) that are worthwhile."
Bellringer added that the Grizzlies, who only averaged
around 16,000 fans last season, "have already exceeded"
season-ticket goals for next season and the Canucks "are on
target." Although Orca Bay does not reveal exact season-
ticket sales for the two teams, both "are believed to be
well under" 10,000. McCaw has said that he would like to
have a partner in the venture so he can keep the teams in
Vancouver (Toronto GLOBE & MAIL, 8/24).
WHO'S BUYING? In Vancouver, Tony Gallagher reports that
McCaw "has been in negotiations" with MT-based Seaspan Int'l
Owner Dennis Washington to invest in the teams and the
arena. Though talks "have not quite progressed to the point
where it's been determined how much of the operation"
Washington would acquire, it has been called a "sizable
chunk of everything" by one Orca Bay source. Washington was
not available for comment (Vancouver PROVINCE, 8/24).
CANUCKS TO ALLEN'S TOWN? In Toronto, Garth Woolsey
writes on the Grizzlies and Canucks and says that "teams
this bad for this long indicate mismanagement on a colossal
level and that starts at the top, with McCaw himself."
Woolsey mentions Blazers/Seahawks Owner Paul Allen as a
possible buyer but says of others, "Nobody knows" (TORONTO
STAR, 8/24). CBS SportsLine's Mike Kahn also floats Allen
as interested in bringing the Canucks to the Rose Garden,
but he adds that McCaw "isn't likely to sell just a portion
of the package" when the teams and the arena would be "far
more attractive" together (CBS SportsLine, 8/24).
