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Leagues and Governing Bodies

IS NHL'S CRACKDOWN ON MULTI-OWNERSHIP REACTION TO FOX MOVES?

          The NHL may "put the brakes on" the Fox Group and other
     companies "looking to buy large chunks of more than one
     franchise by establishing a new bylaw that limits any one
     party's ability to have operational influence in multiple
     teams," according to Bernstein & Mullen of the
     SPORTSBUSINESS JOURNAL.  The new bylaw, which was drafted by
     a committee which included reps from 17 of the 26 NHL clubs,
     is scheduled to be voted on June 25, and NHL Senior VP/Legal
     Affairs William Daly said that it will put "strict and
     specific and precise" limits on multiple ownership as well
     as business relationships between teams.  Although Daly
     would not reveal details, several teams execs said that it
     "particularly addresses the issue of control," and puts
     guidelines on the "role minority owners can have in a team's
     operations."  Fox, which serves as the league's TV partner
     and possesses regional rights to more than a dozen NHL
     teams, also owns almost 20% of the Rangers and has an option
     to purchase 40% of the Kings, and is "at the epicenter" of
     the debate.  Kings President Tim Leiweke said that a new
     bylaw "may affect how Fox proceeds with the purchase" of his
     team.  Leiweke: "They may decide not to exercise the option
     with the Kings" (SPORTSBUSINESS JOURNAL, 6/8 issue).

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