Former SkyDome President Lawrence Dale, who sued
SkyDome Owners and former partners Harvey Walken, Alan Cohen
and their companies last September, "will receive
significantly more than a reported" C$3M to drop the
litigation, according to sources "close to the deal" cited
by Tony Van Alphen of the TORONTO STAR. Walken and Cohen
fired Dale "in a bitter split" as President of Sportsco
Int'l, a group that "won the high-profile auction" for the
SkyDome in '99. Dale then sued the two "for allegedly
breaching their fiduciary duties, conspiring to squeeze him
out of future profits and misusing confidential
information." Dale asked for an injunction that would
"force the owners" to sell the stadium back to him, "minus
any profits they made since the acquisition," or for C$50M
in damages "as an alternative." As part of the deal, one
industry source said that Dale "likely gave up covenants
whereby Walken and Cohen could only pursue the Blue Jays ...
with him or his permission." Also, former Ontario Cabinet
Minister and partner Greg Sorbata, who sued the owners
before Dale, "also reached a settlement that will pay him
about" C$200,000 (TORONTO STAR, 2/22).