DC real estate developer Theodore Lerner and Baltimore-
based Bond Distributing Co. execs Robert Pinkner, along with
Robert Footlick, have both "inquired about buying a stake"
in the Ravens, according to sources of Jon Morgan of the
Baltimore SUN. In addition, Legg Mason Sports Managing Dir
John Moag is representing some prospective buyers and has
been in contact with the team. The team is seeking
investors "to put up" $150M for a minority share, believed
to be 25% of the team, but leaves control of the franchise
in the "hands" of the Modell family. Ravens President David
Modell said that an investor "may receive profit-sharing,"
but won't be "granted control or guaranteed income."
Modell: "This is the minority investment store. If you want
the control store, go somewhere else." Morgan writes that
the team's cash flow could attract investors, as sources who
have seen the team's financial documents say that it "boasts
of having" the fifth-highest revenue in the NFL, with nearly
$120M "projected" for this year (Baltimore SUN, 12/15).
