Group Created with Sketch.
Volume 27 No. 35
  • Created with Sketch.
  • Created with Sketch.
  • Created with Sketch.

MINOR LEAGUE NEWS & NOTES: LUBMERJACKS STILL SEEKING BUYER

          Indians Owner Larry Dolan "has pretty much pulled out"
     of the bidding to buy the IHL Lumberjacks, according to
     Roger Brown of the Cleveland PLAIN DEALER, who wrote that
     the reason "apparently" is the "high price tag" of Owner
     Larry Gordon. Sources said that Gordon is "demanding" $8M
     for the team, $4.5M up front, and another $3.5M over the
     next year "if the team meets various financial and
     attendance conditions.   But sources note that one could buy
     two AHL teams "for less money" than Gordon's asking price
     (Cleveland PLAIN DEALER, 6/14).  In Cleveland, Amy Rosewater
     cites sources who say that other interested parties in the
     Lumberjacks include CO ski exec George Gillett and Cavs
     Owner Gordon Gund (Cleveland PLAIN DEALER, 6/15). 
          AROUND THE CIRCUIT: Orlando Predators Entertainment
     (OPE) announced that it has terminated its letter of intent
     to acquire United Sports Ventures (see THE DAILY, 5/25/99). 
     OPE was to acquire the UHL Quad City Mallards, MO River
     Otters, Rockford Ice Hogs and the Double A Mobile BayBears
     as part of the deal.  OPE Chair Richard Corley said the
     primary reason the acquisition was terminated was due to the
     decline in the price of OPE's common stock and the BOD "felt
     the dilution of the common stock to be issued in connection
     with the acquisition would have been too great at this
     time."  OPE President Eric Margenau said OPE still believes
     there is "tremendous synergy" between the two companies and
     they "hope to complete a deal sometime in the future when
     the dilution is more favorable" to OPE shareholders
     (OPE)....In Syracuse, Lindsay Kramer wrote that the AHL
     Crunch unveiled its redesigned jersey and a logo "whose
     centerpiece is a ferocious gorilla head."   Crunch Owner
     Howard Dolgon, on the new logo: "We think it's a little more
     intimidating on the jersey than Crunchman was.  We think
     he's got a little edge to him.  We expect the people in
     Syracuse to embrace it" (SYRACUSE HERALD-JOURNAL, 6/14).