Former Islanders Owner John Spano "remained at large
yesterday but was supposed to turn himself in on Long Island
today and attend an arraignment in Uniondale this
afternoon," according to NEWSDAY's Valenti, Fessenden &
Shah. Spano's attorney, Nicholas Gravante, said Spano would
plead not guilty to charges stemming from a federal fraud
case. Spano left the Cayman Islands yesterday, "flying on
commercial flights to Miami. Sources said he then flew on
to Dallas." Gravante: "Immediately upon learning of the
charges, he made arrangements to return" (NEWSDAY, 7/23).
Gravante declined to comment on a report that Federal postal
inspectors and police "unsuccessfully sought to arrest Spano
in Dallas on Monday." He added that Spano "was surprised by
the charges" (Richard Sandomir, N.Y. TIMES, 7/23).
RUNNING A TAB: NEWSDAY's Valenti, Fessenden & Shah
report that sources with knowledge of the federal
investigation of Spano report that while acting as the
Islanders owner, he billed the team for $200,000-250,000
"worth of meals, hotel rooms, chartered jets and other
expenses." League sources said Spano "even called the
club's general counsel, Bill Skehan, and its [CFO], Art
McCarthy, in from a golf course to send him money for
unspecified expenses." NEWSDAY adds that since "many of the
bills were undocumented," team officials "don't know exactly
what he spent the money on" (NEWSDAY, 7/23).
CLEANING UP: Sources tell NEWSDAY's Valenti, Fessenden
& Shah that representatives of Isles Owner John Pickett, the
NHL and Fleet Bank of Boston have "reached a conceptual
agreement on the terms" for restructuring the $80M Fleet
loaned to Spano to buy the team (NEWSDAY, 7/23).
