Orca Bay Chair John McCaw and President & CEO Stanley
McCammon had a "handshake deal" with MT-based Seaspan Int'l
Owner Dennis Washington for 50% of the Orca Bay operation
and "used it as leverage to exact a better price" from Bill
and Nancy Laurie, according to Craig Daniels of the TORONTO
SUN. If the deal went through, Washington "was willing" to
keep the Grizzlies and Canucks in Vancouver, but McCaw
instead sold the Grizzlies to the Lauries for $148M and a
bonus of $52M more "when the team moves to St. Louis."
Daniels: "If true, and there is no reason to think it isn't,
McCaw and his wallet are praying for the Grizzlies to move."
But Daniels notes that NBA Commissioner David Stern "doesn't
want" the team to move and may "push" for the NBA Board of
Governors to approve the sale of the team "only" if it is
kept in Vancouver for 10 to 15 years. However, Daniels
writes that board members and team owners "will be eager for
the sale to go through because the bonus and the location
shift would push the team's price-tag to" $200M, the largest
amount ever paid for an NBA team (TORONTO SUN, 10/20).