SBD/Issue 1/Franchises

Group's Bid For WNBA Team In Denver Delayed Due To Lack Of Funds

Triple Crown Sports (TCS) CEO David King, who is leading the effort to get a WNBA team in Denver, said that the bid for an expansion franchise "will be put off until at least 2009 because of lack of investor money," according to Chris Dempsey of the DENVER POST. King said, "There is a lot of interest in the team. There's not a lot of interest in ownership of the team." King said while a core group of 15 investors existed, the "dollar amounts weren't significant enough. I didn't have the one or two really substantial players that it took to do this deal." Dempsey notes there were "rumors King was going to buy the [Comets] and move the franchise to Denver." King said that he was "never presented an opportunity to buy the Comets, but that acquiring an existing franchise is a possibility -- and that takes fewer dollars." While Kroenke Sports Enterprises (KSE) had offered TCS use of the Pepsi Center at "economical rates," KSE Exec VP & CMO Paul Andrews said that Owner Stan Kroenke "does not want to be stretched too thin by being majority owner in a sixth professional franchise" in the market (DENVER POST, 9/12).

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