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SBJ/November 10 - 16, 2003/Other News
This week in sports business history: Nov. 10-Nov. 16
Published November 10, 2003
1977: Major Indoor Soccer League was officially organized, with play set to begin in 1978.
FOLLOW-THROUGH: The league eventually folded, with a few remaining teams joining the National Professional Soccer League. In 2001, the NPSL was restructured into the new Major Indoor Soccer League.
1994: The Tampa Bay Buccaneers confirmed the club would be put on the market immediately by the board of trustees running the estate of the late Hugh Culverhouse.
FOLLOW-THROUGH: In 1995, Malcolm Glazer bought the team for $192 million. At the time it was the largest franchise sale in sports history.
1997: Fort Lauderdale-based
FOLLOW-THROUGH: SportsLine (SPLN) peaked on Dec. 21, 1999, with an adjusted close of $63.25. As of press time, shares of SportsLine were trading at $1.05.
1997: The NBA and NBC Sports announced a new four-year deal that keeps NBC as the exclusive over-the-air network of the league through the 2001-02 season.
FOLLOW-THROUGH: NBC's 12-year relationship with the NBA ended after the 2001-02 season, as the league signed a new six-year TV agreement with ABC/ESPN and AOL Time Warner for a combined $4.6 billion. NBC Sports Chairman Dick Ebersol echoed his comments from when the network parted ways with the NFL, saying: "The definition of winning has become distorted. If winning the rights to a property brings with it hundreds of millions of dollars in losses, what have you won?"
1997: The Ohio State University
FOLLOW-THROUGH: The renovations were completed prior to the 2001 football season at a total cost of $194 million.
1998: New York attorney Miles Prentice's $75 million bid to buy the Kansas City Royals was approved by the team's board after being called the best option to keep team in the city.
FOLLOW-THROUGH: Nearly one year later, MLB team owners voted 29-1 to reject Prentice's bid over concerns over its viability. In 2000, Royals Chairman David Glass bought the team for $96 million.
1999: NASCAR reached a $2.4 billion deal to split its television package, starting in 2001, between Fox Sports and NBC/ Turner. The deal called for Fox to pay $200 million a year over eight years, with NBC/Turner paying another $200 million annually for six years. Speedway Motorsports President H.A. "Humpy" Wheeler: "This puts us into the true mainstream of national sports. We will be one of the big three now."