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Sports Industrialists

FLEET LOOKS TO GET SERIOUS WITH SPORTS LENDING DIVISION

          Fleet VP PATRICK MCAULIFFE has been named to lead
     Fleet's sports-lending group, according to Gary Silverman of
     NEWSDAY.  Fleet has restructured its division after the John
     Spano/Islanders affair.  Fleet spokesperson James Mahoney:
     "[T]here were some lessons learned from the Islander
     experience."  Mahoney acknowledged that before the changes,
     "there was an element of boosterism and entertainment that
     was associated with the relationship," but now the approach
     "is in recognition that sports lending is a lot more
     sophisticated."  NEWSDAY's Silverman: "Instead of having a
     single manager handle a single team, the bank means to
     introduce corporate financiers, commercial lenders and other
     specialists into the mix, treating teams like other
     businesses" (NEWSDAY, 9/9).   

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