The Bonham Group President Dean Bonham filed suit in CO
court yesterday, alleging that new Nuggets, Avalanche and
Pepsi Center Owner Donald Sturm "took advantage of Bonham by
not fulfilling an implied contract," according to Stephen
Keating of the DENVER POST. Bonham claims to have had a
"gentleman's agreement" with Sturm to discuss compensation
if Sturm acquired the assets, but his "suit does not request
a specific amount in damages." Bonham previously stated his
desire for a finder's fee of 1% of the purchase price if he
were to manage the sports assets, or an unspecified finder's
fee without a management position. Sturm's attorney,
Jeffrey Chase: "We have reviewed the case and believe that
the allegations are groundless. Mr. Sturm will defend it
vigorously" (DENVER POST, 9/16). Bonham said that he met
with Sturm in August, and that Sturm "rebuffed him, and
rejected all efforts at negotiations." In the upcoming
SPORTSBUSINESS JOURNAL, Daniel Kaplan cites a source as
saying that Sturm offered Bonham $50,000 to avoid a court
fight. But, the source said a finder's fee would be worth
several million dollars (SPORTSBUSINESS JOURNAL, 9/20).
