Quote of the Day
"I don't want to get my heart broken again."
— L.A. Mayor James Hahn, on his cautious optimism the NFL will place a team in the city by '08
(L.A. TIMES, 6/2).
Top Stories
IMG co-CEOs Bob Kain and Alastair Johnston circulated a memo to employees yesterday, stating the company is seeking financing partners in order to continue to expand and to provide the current owners with "some liquidity." The memo comes a year after the death of Mark McCormack and stirs speculation about the future of the industry giant. While raising capital is obviously a major goal, sources say the sale of IMG is indeed one option — a scenario denied by the company last month — but that the "situation remains fluid."
Seattle Slew
Qwest buys naming rights to Seahawks Stadium, could see added value with MLS expansion.
Get Met, It Pays
Mets exercise $54M buyout of '06 rights with MSG-FSNY; new RSN or YES deal could be next.
Dressed For Success
Nike signs three-year deal with AFL valued as high as $5M.
Parallel Bars?
NBC Sports and Olympics execs say they were caught off guard by "Today" show keeping athletes off ABC's "GMA."
Catching Some Rays
Robert Sarver secures $401M in financing, expects to close purchase of Suns by June 30.
Let Him Be Frank
McCourt to name himself Dodgers President.
Moving Target
Ganassi sued for allegedly reneging on $35M pledge to Chicago Motor Speedway project.
Going Into Hibernation
Despite playoff run, T'Wolves in the red due to $16M luxury tax payment.
Health Kicks
Freddy Adu to pitch Campbell Soup; PowerBar latest to tab Michael Phelps as
endorser.
Good Seats Still Available
With corporate sponsors buying less, more than half of Athens Olympic
tickets still not sold.
Walking In Memphis
Morgan Keegan & Regions Financial replaces Kroger as title sponsor of St.
Jude tennis event.
