The Twins have reached a "tentative agreement" with the
Metropolitan Sports Facilities Commission to remain in MN
for "at least two more years, and possibly as long as five,
with the deal awaiting only the approval of commission
members on Friday," according to a front-page report by
Millea & Hartman in the Minneapolis STAR TRIBUNE. The
agreement commits the Twins to playing at the Metrodome in
'99 and 2000, with the club holding options for each of the
following three seasons. Under terms of the deal, the MSFC
will drop its lawsuit against the team for attempting to
break its Metrodome lease, and will give the Twins an
"amount matching" the 10% admission tax on tickets, around
$1M per year. If the Twins were to leave after two years,
they would be forced to return the money. The deal also
calls for a 30-day time frame for Twins Owner Carl Pohlad to
attempt to "seek a buyer committed to keeping the team" in
MN, which would begin "at or near the date the proposed
agreement is signed" (STAR TRIBUNE, 7/23). In St. Paul,
Patrick Sweeney reports that while the deal would require
Pohlad to consider local offers for the team for at least 30
days, it "does not guarantee there will be a new local
owner, or that the team ultimately will stay" in MN. Twins
President Jerry Bell: "I don't want people to think the
problem is solved, because it's not" (PIONEER PRESS, 7/23).
POHL POSITION: In trying to assess the franchise's
worth, Bell "refused to say" what Pohlad's "total
investment" in the team is now, but said that it is "greater
than" $105M. In St. Paul, Patrick Sweeney reports that
Pohlad's "total investment" is over $105M, which "could be a
major hurdle for any would-be local buyer" (PIONEER PRESS,
7/23). Also in St. Paul, Charley Walters reports that
Pohlad could satisfy the terms of the deal "by remaining a
major or minor investor in the team if a new local investor
or investors are found." Walters adds that T-Wolves Owner
Glen Taylor "remains the best bet but hasn't decided whether
such a purchase is feasible" (PIONEER PRESS, 7/23). Also in
St. Paul, Tom Powers writes of the Catch-22 facing the team
and city, as without a commitment for a new ballpark, the
Twins "probably can't attract local investors," but the
public "won't even consider a new facility until local
investors wrest the team from Pohlad" (PIONEER PRESS, 7/23).
CHARLOTTE'S WEB? Bell said that a Charlotte group which
visited last Thursday was "very agressive" in its effort to
land the Twins, but that Pohlad "turned them down." Pohlad:
"I never said I would move the team" (STAR TRIBUNE, 7/23).
