SALE OF MAJORITY STAKE IN THE PANTHERS IS IMMINENT
Rumors of a Panthers sale from Wayne Huizenga to Dallas
businessman John Spano were "as plentiful as toy rats" when both
men took in the Panthers-Flyers game Thursday night. Dave
Sheinin of the MIAMI HERALD writes that while no sale has been
finalized, both men implied that an agreement that would give
Spano a controlling 60% of the team was imminent. The deal will
likely be announced after the Panthers sign a lease for a planned
$222M arena in Sunrise, FL. Though Spano has no ties to South
FL, Huizenga indicated that the franchise will remain in the area
regardless of who owns it (MIAMI HERALD, 5/11). Huizenga
Holdings President Rick Rochon: "It could happen in two days, it
could happen in two months. It might not happen at all. You
never know with these things until they're done." Lebowitz &
Nitkin of the Ft. Lauderdale SUN-SENTINEL write that Spano, who
bid $82.3M for the Stars last year, will probably pay between
$51M and $60M for the 60% share (based on a franchise vaklue of
$85M) and to become majority owner. Spano: "Of all the teams
we've looked at -- and we've looked at a few -- this is probably
the best because of the building and the economics. ... Just to
be associated with Wayne is as much a bonus for me in this deal
as anything. He's done what I want to do" (Ft. Lauderdale SUN-
SENTINEL, 5/11).
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