TODAY IS NBA'S DEADLINE FOR HEAT SALE. IS ANYTHING COOKING?
With the NBA deadline today, "little progress has been made
in resolving issues crippling Whit Hudson's planned purchase of
managing control of the Miami Heat. And barring a last-minute
settlement -- which is unlikely because of the complexity of the
disputes and lack of communication between the involved parties -
- the NBA should soon rule it won't discuss Hudson's ownership
application until after the season ends in June." Hudson, who
agreed last August to purchase 41.5% of the team from partners
Lewis Schaffel and Billy Cunningham for $60M, said his attorneys
have not met with reps of Heat majority owner Ted Arison or those
of limited partners Raanan Katz and Julio Iglesias since last
Friday. If the NBA delays the sale, Hudson said he would
consider legal action against the Arison family. Iglesias'
attorney Shepard King was optimistic a settlement could be
reached within a few weeks. Katz said the deal "was done without
my knowledge or consent" and that his "beef" is with Schaffel and
Cunningham (Alex Marvez, MIAMI HERALD, 11/22).