The Expos' limited partners passed a resolution
yesterday that "opened the door" for team Managing General
Partner Jeffrey Loria "to cover what would have been a cash
shortfall" of C$18M, according to Jeff Blair of the Toronto
GLOBE & MAIL. The move is a "further indication of the
inevitability of the purchase of the remaining" 75% of the
club by Loria. Loria said that talks are continuing, and
added in a statement, "It became clear to me that the
limited partners had no interest in funding the obligations
of the team. It also became clear that in order to meet the
obligations of the team, I, as general partner, will have to
fund the entire deficit for the rest of the season." A
spokesperson for the limited partners said yesterday, "If we
intended to stay on as owners, we wouldn't pass this
resolution. This thing is 99 per cent done. It would be
foolish to do anything to hold it up" (Toronto GLOBE & MAIL,
8/22). The CP cites Loria spokesperson Andre Bouthilier as
saying that Loria "will inject between" C$17-19M "to erase
the team's current operating deficit" (CP, 8/22).
