Expos Majority Owner Jeffrey Loria has "decided not to
renew an option on a parcel of land in downtown Montreal"
that for 2 1/2 years "has been set aside for a new
ballpark," according to Jeff Blair of the Toronto GLOBE &
MAIL, who reports that the Canada Land Company, which owns
the plot, has "extended an option on the land five times"
dating back to its first dealings with former Expos
President Claude Brochu. Meanwhile, Loria said that he
still "intends to build a new stadium downtown." Loria adds
that the decision was reached "because the team is unable to
meet Canada Land's demand for a precise date for the start
of construction until the situation with the Quebec
shareholders and other stadium-related issues have been
resolved." The latest offer expires on August 31, and in a
letter dated August 21, the Expos "informed the corporation
that the team is not interested in another six-month
extension" (Toronto GLOBE & MAIL, 8/24). Canada Land VP
Gordon McIvor: "This effectively puts an end to 2 1/2 years
of negotiations" (Montreal GAZETTE, 8/24). Expos Exec VP
David Samson: "We were not in a position right now to
continue funding that option, it just did not make sense.
... And we're not just turning our back on the new stadium
in Montreal because, again, we have no reason to believe the
team is going anywhere" (Montreal GAZETTE, 8/24).
SO LONG? In Montreal, Jack Todd: "If this is not the
end of the Expos in Montreal, it might as well be." Without
the ballpark, the Expos are "on their way elsewhere." Todd
cites a source who indicated that Loria turned down a C$75M
offer from Stephen Bronfman to buy out his shares because
"he intends to resell the team in the U.S, for a much larger
profit." The source: "It's a pure flip. He can't run
something like this, and he knows it (GAZETTE, 8/24).
