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Volume 24 No. 156

Franchises

     SHREVEPORT REJECTS FRANCHISE HALF-OWNERSHIP:  Jerry Jones,
attorney for the city of Shereveport, dealt the city's CFL
franchise "another blow" when he told Pirates team officials that
the city cannot own stock or share in a for-profit enterprise.
Pirates President Lonie Glieberman had offered the city half-
ownership of the franchise at a price of $3M over the next five
to 10 years.  Shreveport Economic Development Director Dale
Sibley said he was unsure what options the city had left to try
and keep the franchise from relocating (Gary Hines, Shreveport
TIMES, 10/27).
     DEADLINE FOR TIGER-CATS:  The CFL has given the Hamilton
Tiger-Cats until December 23rd to meet the criteria set out by
the league's Board of Governors, to ensure the future of the
franchise in Hamilton.  The club must sell 12,500-15,000 season
tickets for '95; generate a minimum of $1M in corporate
sponsorship; and, the city must commit to building private boxes
for the 1995 season.  The condition is part of the city's '96
Grey Cup bid (CFL).

     Warriors Owner Chris Cohan, who is considering moving the
franchise to San Francisco or San Jose, last night attended a
Warriors exhibition game at San Jose Arena.  Prior to the game,
Cohan took a tour of the facility and said he was "open-minded"
about a move to San Jose: "It's a nice place, no question about
that."  Warriors President Dan Finnane has spent the past 18
months trying to build a new arena for the Warriors in the Bay
Area.  Cohan's attorney, Robin Baggett, said that the San Jose
Arena falls a "few seats short of what we're looking for, but
it's there.  In California, that says a lot."  Cohan said that he
expects to make a decision by June.  Attendance for last night's
game was 15,166 (Bud Geracie, SAN JOSE MERCURY NEWS, 10/27).

     Pittsburgh Mayor Tom Murphy has announced that four groups
remain in contention to buy the Pirates; they are headed by:
Steelers President Dan Rooney, former Orioles Exec Larry
Lucchino, Adelphia Communications Chair John Rigas and Florida
Financier Malcolm Glazer.  Murphy said he hoped to narrow the
list of Pirates bidders to two within two weeks and to have a
sale wrapped up by Thanksgiving: "We have a deadline and we need
to move."  Murphy did not disclose details of individual bids,
but did say all four groups have raised the issue of a new
baseball stadium.  City officials indicate Rigas and Rooney are
seen as front-runners (Steve Halvonik, PITTSBURGH POST-GAZETTE,
10/26).

     The city of Orlando could take in nearly $125M a year in
economic activity if the city gains a baseball franchise,
according to a study by an Orlando research firm.  These figures
will be used by Orlando Mayor Glenda Hood and others to help
promote the city's efforts to land a club, and counter opponents
who claim the team would only "enrich aspiring owner Norton
Herrick" but "do little for greater Orlando."  The study
indicates the team could attract up to 729,00 fans from outside
the principal drawing area of Orange, Oseceolo, Seminole and Lake
counties.  Other details: Players, administrators, and employees
of the team would bring $16M to the area in salaries and wages,
plus spend an additional $5M in good and services.  Fans
attending 81 regular season games would pay more than $1.4M in
sales, gas and resort taxes.  Herrick: "It (baseball) is
obviously a positive.  You don't have governors and mayors of
cities going after these franchises for nothing" (Dan Tracy,
ORLANDO SENTINEL, 10/26).

     "The on-again-off-again Timberwolves/Target Center deal is
threatened anew," according to this morning's ST. PAUL PIONEER
PRESS, which reports that potential Wolves owner Glen Taylor has
lost "major sources of money for the deal."  First Bank System
had planned to invest $9M in the Wolves, but ran into questions
from bank regulators and withdrew, according to sources familiar
with the deal.  Bank companies are not supposed to own more than
5% of voting stock in nonbanking businesses, "and federal
regulators balked at First Bank's plan to own" about 10% of the
Wolves.  Taylor: "It's a new glitch, and I would have preferred
it not come up."  When asked if this would undo the deal: "I hope
not."  The deal is not supposed to be closed until December when
Taylor is to have his financing lined up and public agencies are
to have sold $54M in bonds for a Target Center buyout.  Taylor
feels "pretty comfortable" that he can find investors willing to
put in a minimum of $1M each by then.  Taylor and Twins owner
Carl Pohlad have talked in the past about the "long-term
possibility of combining the basketball and baseball teams in one
company, with the possibility of selling shares to the public in
several years."  Taylor declined to say if Pohlad would "pinch
hit for First Bank" (Gail Marks Jarvis, ST. PAUL PIONEER-PRESS,
10/27).