Indians Owner Larry Dolan "has pretty much pulled out"
of the bidding to buy the IHL Lumberjacks, according to
Roger Brown of the Cleveland PLAIN DEALER, who wrote that
the reason "apparently" is the "high price tag" of Owner
Larry Gordon. Sources said that Gordon is "demanding" $8M
for the team, $4.5M up front, and another $3.5M over the
next year "if the team meets various financial and
attendance conditions. But sources note that one could buy
two AHL teams "for less money" than Gordon's asking price
(Cleveland PLAIN DEALER, 6/14). In Cleveland, Amy Rosewater
cites sources who say that other interested parties in the
Lumberjacks include CO ski exec George Gillett and Cavs
Owner Gordon Gund (Cleveland PLAIN DEALER, 6/15).
AROUND THE CIRCUIT: Orlando Predators Entertainment
(OPE) announced that it has terminated its letter of intent
to acquire United Sports Ventures (see THE DAILY, 5/25/99).
OPE was to acquire the UHL Quad City Mallards, MO River
Otters, Rockford Ice Hogs and the Double A Mobile BayBears
as part of the deal. OPE Chair Richard Corley said the
primary reason the acquisition was terminated was due to the
decline in the price of OPE's common stock and the BOD "felt
the dilution of the common stock to be issued in connection
with the acquisition would have been too great at this
time." OPE President Eric Margenau said OPE still believes
there is "tremendous synergy" between the two companies and
they "hope to complete a deal sometime in the future when
the dilution is more favorable" to OPE shareholders
(OPE)....In Syracuse, Lindsay Kramer wrote that the AHL
Crunch unveiled its redesigned jersey and a logo "whose
centerpiece is a ferocious gorilla head." Crunch Owner
Howard Dolgon, on the new logo: "We think it's a little more
intimidating on the jersey than Crunchman was. We think
he's got a little edge to him. We expect the people in
Syracuse to embrace it" (SYRACUSE HERALD-JOURNAL, 6/14).
