Franchise Notes
 |
Gillett Confident Liverpool Are In
Position To Withstand Economy |
English Premier League club Liverpool FC co-Owner George Gillett believes the team is in a "sound position to ride out their financial problems," but Gillett has "refused to comment on whether the club is up for sale." Gillett said of reports that he and co-Owner Tom Hicks are looking to sell the team: "The stories feed on themselves and some are made up. With regard to what we're doing, we would not have any comment on that -- there has already been enough speculation." Gillett is "confident Liverpool -- and Premier League clubs in general -- are in a good position, despite their debts, to survive these testing times." Gillett: "What I read is not in the newspapers because it is an unreliable source -- what I am looking at are other financial filings which I think are more reliable." Gillett added that plans for a new stadium "have not been shelved permanently" (Manchester GUARDIAN, 10/31).
NOT SO PEACHY: Turner Broadcasting Exec VP Jim McCaffrey Thursday in Fulton County (GA) Superior Court, testifying in Texas businessman David McDavid's $450M breach-of-contract lawsuit against Turner, cited internal financial projections in saying that the Hawks and Thrashers "were projected to lose" about $250M from '02-05. McCaffrey added that the "losses were expected to increase." McDavid tried to buy the Hawks, Thrashers and Philips Arena operating rights from Turner in '03, and Turner's attorneys in the case have argued that McDavid was "better off not owning the teams and arena rights." Turner attorney Jim Lamberth said the assets have lost "tens of millions of dollars a year" since the sale in '04, and added current owners Atlanta Spirit "have had to make significant infusions of cash." Lamberth: "It's costing them a huge amount of money" (ATLANTA CONSTITUTION, 10/31).
TURNING DOWN THE HEAT: The Heat will offer some seats for the '08-09 season for as low as $5 and $10 in the upper deck. Other promotions include Monday Night Madness (a concessions discount), the Papa John's Heat Family Meal Deal, and a Guys Night Out ticket package for select games. Heat President of Business Operations Eric Woolworth in a statement said, "We're all feeling the pinch and coping with the stress of living through tough economic times. We thought this was a great way to give all fans an opportunity to see a Heat game and grab a snack for less than the cost of going to the movies" (Heat).
|
