|
Post by JETStender on Jan 28, 2009 23:11:03 GMT -5
July 21,1977
Reports claim ice merger off ROCHESTER (AP) — The proposed merger between the National Hockey League and the World Hockey Association is off, it was reported today.
It is said that adamant reactions by high ranking NHL team owners has made it clear that the WHA will not be absorbed this year, if ever.
When the NHL Board of Governors met in Toronto earlier this month, four teams stood firmly against accommodating any WHA clubs. Now, eight teams are reportedly against the merger.
The eight teams reportedly are Boston, Toronto, Vancouver, Chicago, Los Angeles, Detroit, Minnesota and the New York Islanders. Just five negative votes would defeat a merger motion.
"It is just not going to happen," said William Hughes, president of the Vancouver Canucks. "It would be disastrous to have any WHA teams in the NHL," added Harold Ballard of Toronto. "There is no way we'll let it happen."
"The LA Kings have taken a stand," said George Maguire, director of player personnel for the Kings. "They want nothing to do with any new teams." Terms of the original agreement to consider merger specified that at least six WHA teams must join the NHL, playing in a separate division but eligible to participate in the Stanley Cup playoffs.
Those teams most prominently mentioned as possible NHL entrants were Quebec, New England, Cincinnati, Edmonton, Winnipeg and Houston. Both Calgary and Birmingham also want to join the older league
Boston coach Don Cherry recently said of a possible merger: "We're still getting people used to the Cleveland Barons. And they want to introduce the Birmingham Bulls?"
The newspaper also reported that the WHA had drawn up a playing schedule for next season if it was not absorbed by the NHL
|
|
|
Post by JETStender on Jan 28, 2009 23:11:24 GMT -5
Friday, July 22, 1977
WHA teams pinning hopes on finances
NEW YORK (AP) - The proposed merger of the National Hockey League and the World Hockey Association may hinge on the financial stability of the WHA clubs applying for membership in the NHL.
Amid reports that at least eight NHL teams are prepared to vote against any accommodation of WHA teams, thus defeating a motion for merger, WHA President Bill MacFarland said Thursday that eight of his league's teams were working on applications to join the NHL.
MacFarland told a Canadian newspaper that Quebec, Edmonton, Winnipeg, Calgary, New England, Cincinnati. Houston and Birmingham - "should have everything completed by next week" in order to file for NHL membership.
"The NHL is most concerned with the financial stability of our clubs," MacFarland said. "Although the teams in the WHA lost money last season, the owners and principals making the applications are on a sound financial base.
"The markets in the WHA cities are acceptable, but some of the buildings are short of NHL standards. Quebec, New England and, Winnipeg will be adding seats over the next three years to bring them up to the 12,000-seat minimum required by the NHL. Right now, Calgary's position is unclear."
So is the NHL's. During meetings last month in Chicago, the league appeared nearly unanimous in its approval of a merger. At a meeting in Toronto earlier this month, that support seemed to waver and a decision on accommodation of at least six WHA clubs was put off indefinitely.
Now, the fact-finding committee established to investigate the merger is making further studies.
|
|
|
Post by JETStender on Jan 28, 2009 23:11:51 GMT -5
Friday, July 22, 1977 NHL Brass Awaits Merger Report: WHA On Thin Ice?
NEW YORK (AP) - A National Hockey League fact-finding committee investigating the proposed merger with the World Hockey Association is examining questions and problems involved in the agreement, an NHL spokesman said Thursday.
The spokesman termed "premature," reports that the merger agreement had fallen through, adding that the NHL Board of Governors was expected to convene a meeting in the next few weeks to hear a status report from the fact-finding committee.
There were reports that eight of the 18 NHL clubs now oppose the agreement which would have allowed six WHA teams to join the NHL. playing in their own division and competing In the playoffs tor the Stanley Cup. It would take only five negative votes to block any action.
Identified as currently opposing the plan were Toronto, Vancouver, Detroit, Chicago, Minnesota, Los Angeles, the New York Islanders and Boston.
An Islander spokesman called his team's position neutral. ."We're not opposed-to it but we're not for it yet either," be said. "We want to see all of the facts and figures."
Meanwhile, in Toronto, WHA President Bill MacFarland said eight of his league's teams expect to complete application forms by the end of this week as part of the merger plan. He said in an interview with the Hamilton Spectator that the Quebec Nordiques, Cincinnati Stingers, Edmonton Oilers, Winnipeg Jets, 'Houston Aeros, New England Whalers, Birmingham Bulls and Calgary Cowboys were working on applications.
The Indianapolis Racers have said they will .not participate in a merger but will stay with the WHA if a merger falls through. '
|
|
|
Post by JETStender on Jan 28, 2009 23:12:06 GMT -5
WINNIPEG FREE PRESS, THURSDAY, JULY 28.1977
Purina putting bite on Blues
ST. LOUIS (AP) — Ralston Purina Co. has reached tentative agreement to purchase the St. Louis Blues' National Hockey League club, it was announced Wednesday.
R. Hal Dean, chairman and chief executive officer of Ralston-Purina, said his firm will purchase all Blues stock from majority stockholders Sidney Salomon Jr. and his son, Sid Salomon III, and other stockholders and assume outstanding obligations at a cost of about $4 million.
Emile Francis, coach and general manager of me club, will become president and general manager, Dean said. Francis said he had not decided whether he will coach next year.
"We stepped in in what we thought was a last-ditch, last-resort effort," Dean said. "From our evaluation it was either we stepped in or the Blues left town:"
|
|
|
Post by JETStender on Jan 28, 2009 23:12:21 GMT -5
WINNIPEG FREE PRESS, SATURDAY, JULY 30, 1977
NHL demands its rights No compensation for WHA TORONTO (CP) — The World Hockey Association will be "giving up a hell of a lot if we're accepted" in the National Hockey League, Gilles Leger, general manager of the WHA Birmingham Bulls, said Friday.
His league has agreed to demands of the NHL player rights committee in the latest move to bring about a merger between the professional groups.
The NHL's demands are a key to the league's acceptance of at least six WHA franchises in an expansion vote and may strip the WHA of its better players whose rights are also held by NHL clubs. The NHL is seeking compensation for those players. "We could lose key playing personnel and receive nothing in return," Leger said. "Compensation is important but what can you do?"
William DeWitt, board chairman for Cincinnati Stingers, said: "Some of our clubs look at this very emotionally and the demands on player rights make some of us wonder, but we must concede that it's just part of a business deal. Fortunately, we will not be affected to the extent of other clubs."
The settlement, The Toronto Globe and Mail says, involves three categories of players:
• Negotiation nominees or WHA players who have never played in the NHL or were never drafted by NHL clubs. For example, should forward Anders Hedberg's contract with the WHA Winnipeg Jets lapse, Toronto Maple Leafs, who own Hedberg's NHL rights, will have prior negotiation rights. Should the Leafs sign Hedberg they would not have to compensate the Jets.
• Unsigned draft choices who defected from the NHL and signed with the WHA. This demand is retroactive through the 1977 amateur draft and covers two areas.
First, if the WHA signs a player selected in the 1977 amateur draft who was also picked in a similar round of the NHL draft, the WHA will compensate the NHL with a draft pick in 1978.
Second, a player such a Birmingham's Mark Napier, who has played in the WHA and only became eligible for the NHL draft this year, would be treated differently. Montreal Canadiens drafted Napier in June and under the NHL's new player rights, could sign with Montreal when his contract expires next season. The Canadiens would not owe the Bulls any compensation. However, if the Bulls renogiate Napier's contract, Montreal will collect a first-round draft choice as compensation.
• Established defected players such as Bobby Hull of the Jets and Marc Tardif of Quebec Nordiqucs, who jumped leagues, could return to their original clubs at the expiration of their WHA contracts without compensation. In addition, the NHL imposed a May, 1977, cutoff on the WHA regarding renewed contracts. Any contract signed since then will not be honored by the NHL.
An example is Real Cloutier of the Nordiques who will still be bound to a contract signed in 1974 and not the multi-year pact he signed at the end of the season. His NHL rights arc owned by Chicago Black Hawks.
New England Whalers, Winnipeg, Edmonton Oilers, Calgary Cowboys, Birmingham, Houston Aeros, Quebec and Cincinnati all have applied for NHL membership. The NHL governors are expected to vote on individual applications Aug. 9 in New York.
Harry Sinden, general manager of Boston Bruins, headed the players rights committee along with William Torrey, general manager of New York Islanders, and Sam Pollock, vice-president and general manager of the Canadiens.
WHA clubs accepted into an expanded NHL will have to pay a $2.9 million entry fee and play within their own division for the 1977-78 season. They will play NHL opposition in playoffs and exhibition games.
|
|
|
Post by JETStender on Jan 28, 2009 23:12:36 GMT -5
Sundav, July 31,1977
NHL Having 2nd Thoughts On Merger
Hold off on the wedding cake. Don’t let anybody send out those invitations.
The National Hockey League is having second thoughts about hitching up with the World Hockey Association.
One month ago, when the betrothal was announced at a press conference in Chicago, marriage seemed a formality.
Now, however, skeletons are emerging from the WHAs closets and many NHL owners are asking themselves: "What are we getting into?"
Boston, Los Angeles and Toronto are rigidly opposed to taking the WHA teams into the NHL through expansion.
Chicago, Minnesota, Vancouver, Buffalo, Denver Cleveland, and the New York Islanders still have open minds but they must be convinced that the potential gains are greater than the possible losses.
And remember, when expansion finally comes up for a vote by the 18 owners, it will lake only four 'nays" to stand up the WHA at the altar
Unexpired WHA player contracts are the impediment jeopardizing the marriage."
The NHL wants to know if the WHA applicants have the kind of dowry it will take to payoff those unexpired contracts if their holders press their claims in court
A hypothetical case: The Indianapolis Racers have gone out of business but defenseman John Doe still has a contract calling for him to receive $150.000 per year. Nobody will pick him up at that price.
So John Doc goes to court. He sues not only the Indianapolis Racers but also the WHA and the NHL contending that expansion has deprived him of the right to pursue his career and is, therefore an antitrust violation.
Suppose he wins and the judge decides the financial obligation resides with the WHA. Somebody has to come up with the money. The expansion formula calls for the new partners with the WHA to make good
The extent of the possible liability didn't come to light until after the meeting in Chicago. Even WHA owners are aghast at the prospect of multi-million dollar lawsuits. It is estimated that the unexpired contracts total $8 million.
But it could be more. When the National Basketball Association absorbed the American Basketball Association, it was thought that unexpired contracts added up to about $12.5 million, it turned out to be $20 million.
For Indianapolis, Denver, San Antonio and the New York Nets the burden has been staggering
Currently the NHL's antitrust counsel in Philadelphia is analyzing the guarantees offered by the eight WHA applicants - Quebec, Winnipeg Edmonton, Calgary, Houston, New England' Cincinnati and Birmingham.
The NHL's board of governors is expected to meet Aug. s, possibly in Chicago, to study the counsel's findings and decide what to do.
Though the player contracts' problem is the crux of the NHL's dilemma, there are other obstacles. "There are simply more liabilities than benefits," insisted Paul Mooney, president of the Boston Bruins.
"Boston has been opposed from the beginning. "If we expand that's what will happen and the teams that aren't competitive won't have the ability to acquire talent and become competitive.
"According to the National Football League's central scouting, 1,500 potential pro football players are available every year. In the National Basketball Association, the number is 157. "Now, let me tell you what the NHL's central scouting tells us: The number is 67, Thai's right, 67. "And, of those 67, central scouting says there are only 27 capable of going right into the NHL and only 13 who have the ability to play more than 70 games.
|
|
|
Post by JETStender on Jan 28, 2009 23:12:53 GMT -5
WINNIPEG FREE PRESS, WEDNESDAY, AUGUST 3. 1977
Hal Sigurdson SPORTS EDITOR
You have to give the National Hockey League this much. It may be short-sighted, avaricious and thick-witted, but at least it is consistently short-sighted, avaricious and thickwitted.
When the NHL is involved you know what to expect. It is in no danger of learning from past mistakes. Sins of the past will continue as the sins of the future.
You may take the current dog's breakfast passing for plans to bring the NHL and World Hockey Association under one roof as Exhibit A.
First of all, no one, including the WHA and NHL, seems to know for certain whether this impending marriage is actually going to take place. If it does, the NHL is going to great pains to assure it will shortly become a failed marriage. According to terms and conditions laid down by the senior league the WHA will be lucky if it manages to retain permanent rights to its stickboys.
Last week's Canadian Press story out of Toronto spelled out the gory details. If, for instance, should Anders Hedberg's contract with Winnipeg Jets lapse the Toronto Maple Leafs, who hold his NHL rights, would inherit first claim on his services. The fact he has never played for Toronto or even in the NHL makes no difference. And if he signed with the Leafs, Winnipeg would receive no compensation. But that's not all. Far from it.
It's classic NHL
If a WHA team signs a graduating junior drafted by the NHL, the WHA team will owe the NHL team in question a 1978 draft choice. But wait, it gets worse. Mark Napier signed two years ago with Birmingham Bulls while still of junior age. This year his junior eligibility expired and he was drafted by Montreal Canadiens in the first round. Napier's Birmingham contract ends next year. If he then signs with Montreal, the Canadiens will owe Birmingham nothing. If he signs a new contract with the Bulls, Birmingham will owe Montreal a first-round draft choice.
There's more. Players who came to the WHA from the NHL can go back to their original teams when their contracts expire. The WHA teams will receive no compensation. WHA contracts signed after May of this year will not be honored by the other league which, among other things, means that long-term contract signed by Real Cloutier with Quebec will be invalid if the marriage goes through. Beautiful! This is not only greedy, it is stupid, which makes it typically NHL.
The message that obviously hasn't got through to the myopic deep thinkers of the NHL is the enemy isn't the WHA. It hasn't been for two or three years. Sure, the mere existence of the WHA is responsible for an upward pressure on salaries, but a far larger menace should be apparent to NHL governors every time they shave.
Imbalance, far more than the presence of a rival league, is responsible for the NHL's financial woes. Teams like Washington, Colorado, Cleveland, Atlanta, Chicago, Minnesota, Vancouver, St. Louis, Detroit and New York Rangers are at best mediocre, at worst bumbling incompetents. They offer little entertainment value for the home fans, even less when they play on the road.
Changing bad to worse
That's more than half the league. It means the NHL which charges top dollar for every game, can offer top dollar entertainment only when teams from Montreal. Boston, Buffalo, Philadelphia, New York Islanders, Los Angeles, Toronto and Pittsburgh play one another. It is stretching a point to include Los Angeles and Pittsburgh.
The NHL's problem isn't WHA competition, but its own product. It has too many teams of little talent, too few games to generate real excitement. To perpetuate this situation, it has cleverly written its by-laws in such a manner that it is difficult if not outright impossible for the have-nots to significantly improve their lot in life.
Now the NHL is proposing to bring in half a dozen WHA teams under conditions which virtually guarantee they will be non-contenders. As they presently stand the Jets and Quebec Nordiques arc better than two thirds of the existing NHL learns. With the addition of the Howes, the New England Whalers might be. Cincinnati Stingers have a promising nucleus on which to build. The NHL seems dedicated to reducing (hem all to the playing strength of the Detroit Red Wings and the financial strength of the Cleveland Barons.
Merging the two leagues could have a stabilizing affect on professional hockey. It could bring salaries into line and in lime bring financial security back to the game. With its uncanny instinct for seizing its own jugular, the NHL has found a way to take a bad situation and make it worse.
The WHA's trustees arc meeting later this week in Toronto. If they're smart, they'll tell the NHL to take its conditions and stick 'em where the sun don't shine, if they've got the ability to pay the NHL's blood money, why nol put it into a common pot to improve the calibre of their own league. The interest alone would pay a lot of bills. In time, they might invite some of the more attractive NHL teams to join their lodge.
For a price of course.
|
|
|
Post by JETStender on Jan 28, 2009 23:13:19 GMT -5
WINNIPEG FREE PRESS, FRIDAY. AUGUST 5.1977
No names disclosed Five submit applications
NEW YORK (CP) — In a cloakand- dagger atmosphere, the World Hockey Association announced Thursday that five of its clubs have sent new applications for membership in the National Hockey League, but WHA officials refused to name the clubs.
The WHA's board of trustees was sworn to secrecy not to disclose the names of those who applied for NHL membership next season until at least the application of a sixth club is settled.
Close-mouthed WHA officials would give only bare-bones facts about what was going on at the trustees meeting. It broke up shortly after the applications were sent to all 18 member clubs in the NHL at about 4:15 p.m. CDT.
It was indicated that the five WHA applicants each posted $1.5 million certified cheques with lawyers as part of a reported $2.9 million NHL franchise fee for each new NHL member.
Nelson Skalbania of Edmonton Oilers, a member of the fact-finding committee, said that the problem sixth club was neither Birmingham Bulls nor Houston Aeros, but it was "the strongest club financially"— which could be Quebec Nordiques, who never have been overjoyed with the so-called accommodation between the WHA and NHL, announced after the NHL governors met in Chicago last June 24.
The NHL's fact-finding committee was given the go-ahead to explore a plan of having not less than six WHA teams join the NHL as a separate division next season, with possibly four teams getting into the playoffs. The NHL governors will meet in New York next Tuesday and Wednesday to vote, finally, for or against the accommodation or merger with the WHA.
It was understood that the live WHA applications were delivered to John A. Ziegler Jr., the new NHL president, who was in New York. Copies were sent by air express to the 18 NHL clubs.
The NHL sweepstakes for WHA membership was down to seven clubs—New England Whalers, Cincinnati Stingers, Houston Aeros, Winnipeg Jets, Birmingham, Edmonton and Quebec, One of those club owners eventually will be the odd man out.
Skalbania. the trustee from Edmonton, said the sixth franchise is the "troublemaker."
He said that the WHA fact-finding committee "has a meeting tomorrow morning with the sixth franchise person that we have some problems with." Later he said the meeting was scheduled for Toronto.
Can you name the sixth franchise? he was asked. "We're requested not to. It's not Birmingham. It's not Houston."
Other members of the committee are Bill Dcwitt of Cincinnati, Harrison Vickers of Houston and Howard Baldwim of New England.
Vickers said that Houston delivered its $1.5 million cheque and that he was "delighted" with the outcome of the meeting.
The meeting room at the Essex House was like a revolving door as owners and lawyers were in and out all afternoon.
Finally, the trustees broke up and officials began their hurried departure. Larry Gordon, executive vice-president, had a brief statement, saying: "There are five franchises that have solid applications for joining the. National Hockey League and we're working on a sixth now and we think that'll be resolved very shortly, in a couple of days."
Gordon said the WHA meeting, originally scheduled for Montreal, was shifted to New York because the NHL had requested that the WHA deliver the applications by 6 p.m. Thursday.
Gary Clark, the WHAs public relations director, said it wasn't a financial problem with the sixth franchise "but purely the logistics of completing the application and filing WHA president Bill MacFarland said the trustees went over the applications before their delivery to the NHL, "and we reviewed the indemnity agreements with those people who aren't applying."
He said he didn't know about the Toronto meeting. As far as he was concerned, he was going to Seattle. But there would be some WHA officials in New York while the NHL governors arc meeting next week. MacFarland said that Calgary Cowboys, Indianapolis Racers and the defunct San Diego Mariners and Phoenix Roadrunners all passed up NHL applications.
He said that the WHA had to sign certain releases specified by the NHL presumably to ward off any future lawsuits by disenchanted WHA members. It is believed one such release deals with possible damages by the WHA against the NHL if the accommodation fails to go through.
"We signed certain releases all along the way," MacFarland said. "What they imply is for our lawyers to explain."
He indicated that all the clubs were involved.
Asked if there are still legal disagreements among the clubs, MacFarland said: "The league is in a pretty firm position as far as agreement among its members."
In reply to another question, the WHA president said the league has agreed with its players' association to honor, "or reasonably settle,"-all player contracts as part of indemnification of the WHA clubs left out of the merger.
"We have five teams who have met the financial requirements," he said. But he would not spell out any figures, saying the cheques had been put in an envelope for a lawyer to handle. He would not name the clubs involved.
Would it be an educated guess that the sixth team with a problem is Quebec? "I'm not educated enough to guess," MacFarland said with a smile. "I can't answer that."
|
|
|
Post by JETStender on Jan 28, 2009 23:13:34 GMT -5
Fri., Aug. 5, 1877
Five WHA teams seek spots in NHL
NEW YORK (AP) — The Edmonton Oilers, New England Whalers, Cincinnati Stingers, Houston Aeros and Winnipeg Jets of the World Hockey Association have made application to join the National Hockey League for the 1977-78 season.
NHL President Clarence Campbell told The Associated Press today that applications by the five teams had been received and were in the process of being forwarded to the governors of the NHL for consideration.
The application of a sixth team — the Quebec Nordiques, according to a source — was expected to be received later today.
The WHA's fact-finding committee on merger met with representatives of the sixth team in Toronto today.
The NHL governors will meet here next Tuesday and Wednesday to decide whether to expand and, further, whether the applications by the WHA teams meet the requirements for NHL membership.
"There never has been a plan authorized for expansion," said Campbell by telephone from his Montreal office.'
WHA executives were tightlipped here Thursday after emerging from a meeting during which each of the initial five applicants produced a certified check for $1.5 million as part of a down payment towards prospective NHL membership.
The officials admitted only that five teams had made application and that a sixth would be added.
Should the NHL decide to expand and the WHA applications are accepted, the Birmingham Bulls, Indianapolis Racers and Calgary Cowboys would cease to operate. Those clubs would be compensated by a payment pool of funds deposited by the ongoing WHA members. A similar arrangement was worked out for the American Basketball Association franchises which were not accepted by a National Basketball Association expansion.
A contingency plan has been formulated by the NHL by which the six WHA teams would play among themselves during their first year of membership, with the top four teams making the Stanley Cup playoffs.
Because the current NHL playoff formula did not consider possible expansion, a slight revision in the structure will have to be made. That will be another matter before the governors, should they decide to accept the applications.
|
|
|
Post by JETStender on Jan 28, 2009 23:13:48 GMT -5
WINNIPEG FREE PRESS. SATURDAY, AUGUST 6,1977
Fate of merger in hands of NHL
NEW YORK (AP) — .After months of speculation and delay, the first concrete step has been taken towards consolidation of hockey's two professional leagues.
Six World Hockey Association franchises have applied for membership in the National Hockey League, beginning next season. Now it is up to the NHL to decide whether it wants to expand.
"There never has been a plan authorized for expansion," said ex-NHL president Clarence Campbell by telephone from his Montreal office.
So the NHL governors will gather here this week for yet another in a series of meetings that have been high in number but low in tangible results. First, the NHL finance committee will meet Monday to decide if all requirements for membership have been fulfilled by the applications.
The finance committee then would report to the governors. "They might just say, 'Gentlemen, we have no reccommendations to make. You've got two separate situations. The first is, do you want to expand, and second of all, are these people acceptable?' "
The WHA has endured countless meetings and consultations with counsel in order to make very sure that they arc acceptable. For example, the three clubs that will not continue— Birmingham Bulls, Calgary Cowboys and Indianapolis Racers—will be compensated for the loss of their franchises.
Further, all money must be guaranteed and all threat of litigation must be eliminated. "There's got to be evidence that all conditions have been met, otherwise they'd be subject to attack (in court) and so would we. And we can't have that;" said Campbell.
The governors will take up the matter Tuesday and Wednesday. Even if the necessary unanimous approval is given to expansion— and opposition has been expressed by certain NHL clubs—then further work must be done.
A current plan would place the six WHA teams in a fifth NHL division which would not compete with the other four. The top four clubs in the division of former WHA teams would gain berths in the Stanley Cup postseason playoffs, but further revision of the renovated NHL playoff plan would be needed.
Should all problems be solved, with just over two months remaining before training camps open, the NHL would open its 60th season with 24 member clubs.
|
|
|
Post by JETStender on Jan 28, 2009 23:14:15 GMT -5
WINNIPEG FREE PRESS, WEDNESDAY, AUGUST 10,1977
WHA down, but not for count By RICHARD FRIEDMAN
NEW YORK —The World Hockey Association, deserted at the merger alter by the National Hockey League, might be down but it is not out. That is the message from WHA leaders following the NHL's rejection yesterday of plans for a merger between the two leagues.
"We thought it would be the best thing for hockey, but obviously the NHL didn't," said Cincinnati Stinger vice-president Bill DeWitt, Jr., following the NHL board of governors' meeting last night at the Waldorf Astoria Hotel. "Now, we will renew our efforts to be a viable major league."
Reaction among WHA members here following the NHL announcement was one of shock and disappointment. "We were informed that the board of governors had adjourned, and that no further information was forthcoming," said Houston Aeros' president Harrison Vickers. "Their statement was less than satisfactory in view of the work that went into this effort."
NHL president John Ziegler, Jr., delivered the news of the rejection to the WHA in its suite at the Waldorf. "After very careful consideration," he later told a news conference, "the proposed plan of expansion was put to the NHL governors and it failed to receive requisite majority under NHL rules for approval. Any expansion for the 1977-78 season has gone by the boards."
NHL sources supported WHA charges that yesterday's vote was against expansion, in principle rather than on the WHA applications themselves. Five negative votes out of 18 were necessary to kill the merger. "I learned something from this," said a disappointed Sam Pollock, Montreal Canadiens' general manager, and a member of the finance committee.
"If I ever go Hack on a committee, I'll ask for some authority," said Pollock. "The applications were not even studied by the governors. They didn't have the time. The vote was on expansion; if they had said yes they would have looked at the applications. We never got there. Now the WHA has given its best secrets to the enemy."
Zeigler said the NHL would reinstate its expansion committee, which had existed until its merger fact-finding committee was formed this year. He also left the door open for another attempt at merger in the future. The mood was more combative among the WHA.
"This is proof they are afraid to meet us on the ice, but it's okay to meet us in the boardrooms," said Winnipeg Jets' president Jack McKeag. "We have a better product. But the message we got is that notwithstanding our efforts our applications were not considered."
WHA sources say the league is studying the possibility of taking legal action against the NHL for damages to compensate for the time and effort that went into the merger attempt. The WHA's main concern is finalizing the number of teams it will field, and drawing up a schedule. Birmingham Bulls have already expressed a desire to play next season.
League officials were attempting last night to contact representatives of the Calgary, San Diego, and Indianapolis franchises, some of which might return next season. McKeag insisted the NHL rejection was not a threat to the WHA's credibility. "Our credibility depends on the number of fans who turn out," said McKeag.
WHA vice-president for marketing, Larry Gordon, announced plans for 62 games in international competition, including a trip by the Jets to Japan late in December. The Jets also will complete their training camp in Sweden and play exhibition games there.
WHA vice-president Howard Baldwin called the NHL decision a "rejection in principle, an emotional rather than financial or business decision." Then, after pausing to consider a future reversal of roles between NHL and WHA, he said: ''Maybe they'll apply to our league," said Baldwin." We'll accept applications and if they qualify, we'll let them in."
|
|
|
Post by JETStender on Jan 28, 2009 23:14:39 GMT -5
Wednesday, August 10, 1977 NHL votes against admitting 6 WHA teams
NEW YORK (AP) - On the morning of what would be a very important day, Howard Baldwin sat at the breakfast table and made a prediction. "Their vote will be based on emotion—not on the strength of our applications," he forecast.
Hours later, the National Hockey League's Board of Governors cast a secret ballot against expansion for the 1977-78 season. Baldwin's New England Whalers, and the five other World Hockey Association teams to apply for NHL membership, would feel the stinging slap of rejection.
The vote cast, the conclave adjourned, NHL President-elect John Ziegler left the meeting room by a side door and sped to the suite where the WHA executives waited.
"He came up and said the decision had been made riot to expand. They had turned it down," recalled Bill DeWitt of the Cincinnati Stingers. "No reason was given. The margin of the vote wasn't given. But expansion was turned down." So, despite months of meetings and discussion in cities across North America, everything is almost exactly as it was. The NHL will operate next season with 18 teams; the WHA probably will go with eight.
Those include Cincinnati, New England, Quebec, Houston, Winnipeg and Edmonton whose applications were nullified when the NHL voted not to expand— plus Birmingham and probably Indianapolis.
"After very careful and due consideration, the proposed plan of expansion was put to the governors and failed to obtain the requisite majority," Ziegler told a news conference after informing the WHA of the decision. "At this time, the matter of expansion is over for the 1977-78 season."
The secret vote was not revealed but at least five negative votes were needed to defeat the proposal. "The fans won." said Harry Siden, general manager of the NHL Boston Bruins—one of the teams most staunchly opposed to accomodation of WHA teams. "I knew it was in the bag,"said Harold Ballard of the Toronto Maple Leafs, the most outspoken of expansion's antogonists.'"'Am I happy!"
Baldwin clearly was not. "I'm in shock that a group of businessmen could make such an irresponsible decision," he said. "But I'll tell you one thing: this has united the WHA emotionally and financially. We will be as aggressive now as we were in our first year m competing for players, for television monies and for international competition."
Veteran star Gordie Howe of Baldwin's Whalers echoed his president's disappointment. "The pulse of the comments seemed to indicate the fans wanted it. It's unbelievable. So many people worked so hard ."
Despite the effort, the expense, and the long hours of waiting, Baldwin's ominous prophecy had come true. It's too early to tell whether they'll try again next year.
|
|
|
Post by JETStender on Jan 28, 2009 23:14:56 GMT -5
Wednesday, August 10, 1977
WHA promises to heat up hockey bidding war
NEW YORK (UPI) – Stung by the National Hockey League's abrupt veto of a merger agreement, World Hockey Association officials have promised to reheat the bidding war which prompted both sides to seek an accommodation.
"We are going ahead with plans for an eight-team league," said New England Whalers' president Howard Baldwin Tuesday. "Let the NHL come to us in the future." The NHL's board of governors rejected the proposed expansion plan to accept six WHA teams into a separate division of the NHL next season.
"After very careful consideration," said NHL president John Ziegler, "the prepared plan of expansion failed to receive the required majority necessary. There will be no expansion for the 1977-78 season."
The announcement may have signalled the end of the WHA, which five years ago began luring superstars and talented amateurs to its ranks, initiating a costly and often bitter rivalry.
"They were obviously disappointed," said Ziegler. "But there is nothing to prevent them from applying again next year."
Bitter WHA officials insisted this would not happen. Suffering in attendance and recognition, they had accepted stem terms from the NHL. Now they indicate they may use their last resources trying to establish themselves at the expense of the older league."
"There is no way I would recommend to my board of directors that the Cincinnati Stingers ever again apply for a National Hockey League franchise," Cincinnati Stingers' president Bill DeWitt Jr. said.
"We believe that the NHL was afraid of the high caliber of our on-ice product," Jacques McKeag of the Winnipeg Jets said. "We opened our books to them...what has happened here today has turned us off completely."
The merger needed 14 of 18 votes in the NHL and there was considerable sentiment toward the plan. But the minority included Toronto Maple Leafs' president Harold Ballard and outgoing league president Clarence Campbell.
"The door is still open on the WHA issue," said Campbell. "It's no secret that our league was very widely divided. It's also no secret that my personal disposition was not in favor of a merger."
Ballard, who claimed the WHA would die without the merger, was less restrained. "Winning's not everything," he said. "It's the only thing."
Ziegler, refusing to admit that the vote was a defeat, said, "In my position as chairman of the board and as a member of the fact-finding committee on merger, my only responsibility was to make sure that all of the facts and legalities were presented to the governors here today."
|
|
|
Post by JETStender on Jan 28, 2009 23:15:11 GMT -5
Wednesday, August 10, 1977
NHL, WHA Battle
HARTFORD, Conn. (UPI) - New England Whalers Manager Howard Baldwin said Wednesday the ceasefire between the World Hockey Association and the National Hockey League is over.
It ended in New York City Tuesday when six applicants from the WHA were told by NHL President-elect John Ziegler that expansion had been rejected by the NHL Board of Governors.
"He (Ziegler) didn't give us a valid reason why the expansion bids were rejected. We are naturally disappointed, but life goes on," said Baldwin, whose Whalers were one of six WHA teams seeking entry into the NHL. The other WHA applicants were Winnipeg, Cincinnati, Edmonton, Quebec and Houston.
Ziegler, who remained in New York after the vote was taken, explained by saying: "I met with the members of the WHA (after the vote), but I could not provide them with any 'reasons', for whatever reason any (member of the board) had was their own. I expected the WHA people to be disappointed after their hard work. "But as two individual leagues, it seems as if we each now have to act in our own best interests' added Ziegler.
Baldwin indicated that among the "best interests" of the WHA is financial warfare, which will now resume between the two leagues. "Nobody ever wins a war, and history will show that peace is eventually accomplished. But we are ready to become much more aggressive in signing players," Baldwin said.
Jack Kelley, director of Whaler hockey operations, said many front-line NHL players had delayed signing contracts until the merger issue was decided. "I am sure agents will be getting in touch with us about the availability of the players they are representing," Kelley said.
Baldwin said he was confident WHA teams will "pull together and become much more aggressive in recruiting players, just as we were in the first year. "I think we (the WHA) have been too condescending the past year or so because we wanted to make peace with the NHL, because from a business sense, it is the thing to do," Baldwin said.
The NHL Board of Governors, however, had deemed it "not advisable" for the NHL to expand to include the WHA this year, but did not rule out the possibility of accepting individual applications or even reconsidering the "merger" next year. Ziegler said the fact-finding committee, which had been given authority in Chicago to examine possibilities of expansion to include the WHA, would now be dissolved and replaced by a regular expansion committee.
The Whaler manager said he and his WHA counterparts were never told the official Vote by the NHL Board, but Ziegler said the vote count was not even revealed to the Board members.
|
|
|
Post by JETStender on Jan 28, 2009 23:15:26 GMT -5
Thursday, August 11, 1977
WHA forces prepare for battle with NHL
HARTFORD (AP) - The World Hockey Association is turning inward to clean house and strengthen its hand to renew the battle this season against the National Hockey League.
Many WHA officials thought they would be competing with the NHL on the ice rather than fighting against the older league for players, gate receipts and television Coverage. But the National Hockey League Board of Governors ended that hope Tuesday when it rejected a merger of the two leagues.
"You do lose dollars when you have a war," Howard Baldwin, WHA vice president and managing general partner of the New England Whalers, told reporters Wednesday. But he said the rejection has unified the WHA financially and emotionally and has left it prepared for a fight.
Baldwin said some of the dollars the WHA teams would have spent to pay for the merger will go instead toward signing players now in the NHL or about lobe drafted by the league.
"We will be far more aggressive in our player signings," hesaid. Baldwin, whose Whalers franchise is one of the league's strongest, also said the WHA will not accept new franchises or permit existing ones to operate unless they are financially sound.
"Instead of concentrating on getting seven or eight solid teams, we have been more interested in getting applications from Phoenix and others," he said.
Baldwin said the WHA planned to meet next Tuesday aiid Wednesday in Montreal to determine which seven or eight teams will be part of the league this fall.
He said the six teams who applied to the NHL to become a new division in the league definitely would be included. They are New England, the Cincinnati Stingers, Quebec Nordiques, Houston Aeros, Winnipeg Jets and Edmonton Oilers.
The Birmingham Bulls, which has put its financial feet back on the ground, probably would be in the WHA and the Indianapolis Racers might be accepted, Baldwin said. "(Indianapolis) will not come back unless they can prove to us they can operate, "he said.
He said he still doesn't know why the NHL voted down the merger. "But the biggest reason was emotional," he said. "There is no question that no matter what we did, we weren't going to get some teams' votes."
"I don't feel like I've been conned," Baldwin said with a smile.
|
|
|
Post by JETStender on Jan 28, 2009 23:15:51 GMT -5
Aug. 14,1977
Phones ring a surprising tune at WHA offices
N. Y. Times News Service NEW YORK — The day after the National Hockey League said no to a merger with the five-year-old World Hockey Association, phones at the New England Whalers office began to ring.
"I thought they might have cancellations," said Larry Gordon, executive vice president of the WHA. "But instead they had their biggest ticket sales that day except for the day the Howes signed (May 23)."
From Edmonton an incredulous Nelson Skalbania, principal owner of the Oilers, reported: "Not one soul has asked for a refund yet. Calls have been sympathetic." And in Cincinnati a Stingers spokesman said, "There's not been one call for cancellation. Maybe our season tickets haven't jumped but the cancellations aren't there."
For the time being then the WHA continues to float without the life-preserving NHL logo denied it last Tuesday when the older league's 18-member board of governors voted against an expansion to take in six WHA teams. Having neatened their balance sheets for review by the NHL and readied between $2 million and $3 million each as an entrance fee, the spurned WHA teams now find themselves in perhaps the best immediate financial shape of the past five years.
Howard Baldwin, president of the New England club, has promised more "aggressive" signing of players as the league rallies for one more battle with the NHL. The WHO'S sixth regular season will begin Oct. 12 with exhibition games against NHL teams scheduled for all the WHA clubs but Cincinnati which will hold its training camp in Prague and Winnipeg which will train in Sweden.
As part of its regular season the WHA will go ahead with plans to play 36 games in North America against teams from Czechoslovakia, the Soviet Union. Sweden and Finland.
In Birmingham, Ala., fans reacted with jubilation at the news of the failed merger for John Bassett, owner of the Birmingham Bulls, had decided not to apply for entry in the NHL. Had the merger gone through, Birmingham would have had no hockey,this season. On a marquee that spans Interstate 65 near the Birmingham Civic Center lights spelled out, "hip hip hooray! WHA!"
A reliable source who privately polled the governors just before their secret ballots were cast found these teams in opposition to expansion: Chicago, Detroit, Minnesota, Vancouver. Los Angeles, Toronto, Boston, St. Louis and New York Islanders.
Bassett did not join the group of six teams applying for NHL membership because, "I couldn't recommend it as an investment to my accountants, lawyers and my partners," he said. "They got the rights to all our players. If I kept the players we would lose our own draft choices. And we couldn't play the NHL until the playoffs. When it was two thirds just two of our six votes would count. In an ordinary majority we could vote.
"It's like joining a country club but you can't eat in the dining room and play golf except on Friday mornings. When the NHL turned the WHA down it made us look like geniuses." Why did the NHL reject an absorption of its competitor when just six weeks earlier in Chicago on June 24 the NHL board of governors had empowered a fact-finding committee to negotiate with the WHA toward an accommodation?
"Everything in life is a matter of timing," said William Jennings, president of the New York Rangers and leader of a movement four years ago to merge the two leagues. "If all the spade work had been done and we had all of the financial statements of the WHA a month ago the vote was there at that Chicago meeting. I think the biggest problem was some of these clubs ended up with too many facts on their plate and with the season coming up in six weeks it was too much for them to digest."
Bill Torrcy whose New York Islanders had maintained neutrality until the final vote said: "In the end the reason it didn't pass was in the various categories they didn't quite come to the standards we felt had to be met. I think the chances of expanding would have been greater with fewer teams. Certainly there are some WHA teams and markets of NHL quality and some that aren't. The question is bridging the gap.
"I think generally speaking the Players Association was against expansion and I think it was a voice we listened to. The association said we should concentrate on our low league before taking in more weak franchises." While the blustery Harold Ballard, Toronto's owner, was the most dramatically vocal opponent of expansion, Harry Sinden and Paul Mooney of the Boston Bruins organization presented the most persuasive arguments against the move.
Sinden had been characterized as a vindictive, selfish man by some WHA owners who charged that he spitefully opposed expansion because the New England Whalers had signed Mark Howe, a player whom Sinden drafted and long has admired. After the decisive vote against merger the Bruins general manager was not gloating but instead appeared troubled. "I just hope I did the right thing," he said quietly. "If we could only have taken one or two franchises, but the instructions were for six.
"Our main reason (for opposition) was that we felt the product would suffer badly with an increase in teams. We do have statistics on player availability to back this up. We feel we get 90 per cent of all the junior players each year that are available and if the NHL were 24 teams we would have to spread those players around. With the two leagues there are still 24 teams but 90 per cent of the junior players will still come to the NHL because it's a better league. We're stretched to the limit with 18 teams."
Although the Bruins finished first in their division and made it to the finals of the Stanley Cup playoffs last season (where they were beaten in four games by the Montreal Canadiens) the Boston Garden enjoyed just four sellouts in 40 regular season games as fans selectively avoided games against weaker opponents. There were four sellouts in seven home playoff games
|
|
|
Post by JETStender on Jan 28, 2009 23:16:05 GMT -5
Sunday, Aug. 14, 1977
Racers need $2 million fast or will fold
INDIANAPOLIS (AP) - The Indianapolis Racers think about $2 million will be enough to see them through another World Hockey Association season — but they have only three days to get it.
The WHA meets Tuesday and Wednesday in Montreal to plan a new season, now that the proposed merger with the National Hockey League has fallen through.
"It's such a long shot, but it looks better than it did a week ago," said David Givens, general counsel for Indiana National Bank, which holds the club's assets.
Givens said he expects to talk with potential investors through the weekend. He said between $1.5 million and $2 million is needed to present a sound financial package that would be acceptable to WHA officials The Racers did not apply for inclusion in the NHL during the merger talks because the franchise didn't have the $5 million entry fee. Club officials had said before the talks began, however, that they would prefer and would be able to play another year in the WHA.
Reports have indicated the WHA will have eight teams for 1977-78. Givens said four groups, none of which he would identify, were actively discussing purchase of the threeyear- old franchise. He said two groups were from Indianapolis and two were from outside the city Racer defenseman Pat Stapleton also met with bank officials and the current Racer owners about raising the money to keep the team.
Givens said WHA officials indicated they want the Racers in the league. The club had one of the top attendance averages last season, drawing between 9,500-10,000 fans a game "We have talked with a majority of the members individually," Givens said, "and they all have expressed a deep interest in Indianapolis being part of the league, but on a sound basis "
He also said Racers' players had been intensely loyal and were eager to stay in Indiana. "I've talked with league members, and they know that any contracts signed with Racer players will have to be rescinded if the team plays in Indianapolis next year," he said.
Givens said that, realistically, the franchise will have to have a presentation ready by Tuesday, but he was optimistic. "It's going to be an exciting weekend," he said. "The phone lines will be open."
|
|
|
Post by JETStender on Jan 28, 2009 23:16:26 GMT -5
WINNIPEG FREE PRESS WEDNESDAY, AUGUST 17, 1977
WHA meetings: Day One, and officials mum MONTREAL (CP)-The World Hockey Association board of Trustees, still trying to determine what shape their league will take next season, met for close to six hours Tuesday afternoon, but then had little to announce.
"We haven't got anything to announce officially right now," said Ben Hatskin, chairman of the board. "There are a couple of phone calls that have to be made on a couple of matters still."
Hatskin confirmed that "there will be a WHA league next season with seven or eight teams" but could not say what teams would be involved. There was increasing speculation Edmonton Oilers might not be part of the group. The Oilers lost close to $2 million last season and Peter Pocklington, one of the co-owners of the club, indicated last week he might not be willing to lose the same amount next year.
The Oilers have talked with Colorado Rockies of the National Hockey League in recent weeks and there has been talk the Rockies, who lost a bundle of cash last season, might be sold to the Edmonton group. The Rockies had a season-ticket drive during the summer which reportedly turned out less than satisfactory to club owners.
Nelson Skalbania, the other Oilers' co-owner, said that while Edmonton might be interested in acquiring the Rockies and while they might be available, it appeared the Oilers would be a part of the WHA next season.
"They are certainly available and we are certainly interested, but any such move would require the consent of the teams from both leagues," he added. "That's 26 teams." He said the Rockies had sold just 2,300 season tickets -after their campaign, a disappointing figure to team owner Jack Vickers.
The Oilers could fold their WHA franchise and then go after the Rockies, and while Skalbania indicated this possibility existed, he doubted it would happen. "As of now, we are still part of the WHA," he said, but added quickly that "it's a two-day meeting." Asked if the Oilers were still part of the league, Hatskin told a suppertime news conference: "Right now they still are."
He later said the six clubs which applied for franchise in the NHL— New, England Whalers, Quebec Nordiques, Winnipeg Jets, Houston Aeros, Cincinnati Stingers and Edmonton— would likely be a part of a "seven or eight-team league next season." Hatskin said there would be an 80-game schedule for each of the competing clubs, not including a series of international exhibition games against teams from the Soviet Union, Finland, Sweden and Czechoslovakia.
He added that the WHA had asked for "substantial letters of credit" from its member clubs to make sure the league could continue functioning on a solid financial ground. The WHA officials plan to have an alignment of the league worked out by the end of this week's meetings which are scheduled to conclude sometime today.
Meanwhile it was learned that the WHA will reduce its full-time officiating staff by at least five for the coming season. Last season, the WHA employed 15 full-time officials and if the league goes with eight teams, the number will be reduced to 10. If the WHA operates with seven teams, only nine full-time officials will be employed.
The WHA will also complete plans for the dispersal of the players from disbanded franchises, including San Diego Mariners, which the league took over at the end of the 1976-77 season.
|
|
|
Post by JETStender on Jan 28, 2009 23:16:53 GMT -5
WINNIPEG FREE PRESS. THURSDAY, AUGUST 18.1977
At the moment Oilers stand alone MONTREAL (CP)— Maybe within the next couple of days. Peter Pocklington. co-owner of Edmonton Oilers will change his mind about the Alberta club's participation in the World Hockey Association.
But al the moment, the Oilers are a team without a league to play in for 1977-78 and will not be one of at least seven teams in the WHA next season.
Pocklington stormed out of the WHA's annual meeting after the league would not meet what they felt were "extreme player demands."
"We have now hem eliminated from the WHA picture," Pocklington said. "Edmonton is fighting for its life to get an NHL franchise. We gave the league an ultimatum that we didn't want to be a part of a league of second-class citizens."
Basically, the Oilers' ultimatum was that Edmonton should be given first right of refusal in a dispersal draft if and when some WHA clubs decided not to operate. The WHA owners would not agree to this and now it seems the Oilers will spend the next few days trying to acquire the troubled Colorado Rockies' NHL concession.
The Rockies, who tost S2.5 million last season after the franchise was shifted to Denver from Kansas City failed misery is a widely promoted , season-ticket campagine
Nelson Scalbania the other Oilers co-owner said Tuesday the Rockies had sold just 2,300 tickets and added he had fee talked with Colorado owner Jack Vickers who seemed "very interested" in selling the club.
But any attempts by the Oilers to acquire the Rockies and move them to Edmonton will be fought by the WHA, Ben Hatskin, the WHA's chairman of the board said.
"We plan to protect our territorial rights." said Hatskin. "The Edmonton market has a 15,500-seat arena. They have what is known to be one of the best markets in hockey, football or horse racing.
"We would be the last people to vote anybody out of our league, especially when we are trying to build our league back to something that is going to be successful."
But what the WHA's territorial rights are in Edmonton are questionable and whether they can keep the market for themselves is another story.
WHA clubs invaded NHL cities several times during the past five seasons and there was little or nothing the NHL did about it.
""We will have our legal people study it," said Hatskin. It is unlikely the NHL, which has had to fight the WHA ia the courts several times since the birth of the league, would want to get involved in any farther legal hassles.
Therefore the NHL would want to make sure there would be no lawsuits before approving any sale of the Rockies to the Edmonton group, which lost at least $1.1 million in the WHA last year.
Ray Miron, said that as general manager of the Rockies, he could not believe "that we'll move from Denver." Miron said Vickers, who now is on holidays, "has made arrangements for this season and we've been pushing hard for our season tickets." "Although they aren't what we'd like them to be, we're still confident of a good year."
If the Oilers and Rockies reach an agreement, it is still subject to the approval by the NHL board which holds its semi-annual meetings in Toronto beginning next Wednesday. All NHL clubs will also be required to deposit their league dues for the 1977-78 season at the Toronto sessions.
Meanwhile the WHA has asked for substantial letters of credit from Quebec Nordiques, Winnipeg Jets,, New England Whalers, Birmingham Bulls, Houston Aeros, Indianapolis Racers and Cincinnati Stingers and the Oilers as well if they change their minds.
Each team will play an 80-game schedule, including part of a 36-game series against top European clubs in North America. The games against teams from the Soviet Union, Czechoslovakia, Finland and Sweden will count in the standings. The WHA announced Hatskin will remain as chairman of the board with Howard Baldwin, managing general partner of the Whalers, assuming the league presidency.
Bill McFarland, past WHA president, will serve as the league's general counsel. He could not retain the presidency because he could not relocate in Hartford, Conn., the new home of the WHA's executive offices. Larry Gordon will be the WHA's executive director.
Hatskin also announced Birmingham will not be able to use Ken Linseman, an 18-year-old forward signed from Kingston Canadians of the Ontario Major Junior Hockey League.
There had been a threat from Alan Eagleson of Hockey Canada that the WHA's North American games against the Europeans would not be played if the Bulls used Linseman.
|
|
|
Post by JETStender on Jan 28, 2009 23:17:08 GMT -5
WINNIPEG FREE PRESS, FRIDAY, AUGUST 19,1977
Co-owner says Skalbania giving up Oilers
EDMONTON (CP) — Peter Pocklington, co-owner of Edmonton Oilers, said Wednesday that Nelson Skalbania is giving up his 50-per-cent ownership of the Oilers.
Earlier Wednesday, Pocklington pulled the Oilers out of the WHA for the coming season because he said the league's officers would not allow the Oilers "first right of refusal" on 10 players from folding WHA clubs.
Pocklington said he is trying to buy the National Hockey League's Colorado Rockies from Denver. "I'm confident I can have the Colorado Rockies before the end of the week," he said.
Skalbania was not available for comment. David Givens, general counsel for Indiana National Bank, said in Indianapolis that Skalbania would become principal investor of Indianapolis Racers of the World Hockey Association.
The bank took over all assets of the financially-troubled Racers several months ago. Givens said Indianapolis investors will continue their interest in the Racers "but in a minority position."
The sum Skalbania will pay for majority ownership of the Racers was reported to be $1 million. The bank has agreed to "keep hockey in Indianapolis for the prestige of the city" and write off the $2.5 million in outstanding debts. Pocklington said Skalbania is "legally still a 50-per-cent owner of the Oilers."
Pocklington said Jack Vickers, owner of the Rockies, is interested in selling the club. The price was reported to be $3 million
|
|