SBJ/November 10 - 16, 2003/Other News

This week in sports business history: Nov. 10-Nov. 16

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

Michael Levy, founder of SportsLine
SportsLine USA's stock soared nearly 22 percent in its first day of trading. SportsLine sold 3.5 million shares, opening at $8 and closing at $9.75, with 1.024 million shares changing hands on the Nasdaq.

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

The Ohio State stadium, shown here in 1997, was later renovated at a cost of $194 million.
Board of Trustees approved a $150 million renovation plan for the school's stadium. The renovated stadium was planned to have about 98,000 seats, and would be paid for by proceeds generated from the stadium, including the sale of leases for new luxury suites.

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."

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