SALT LAKE CITY — The Utah Jazz NBA franchise will be sold if new capital isn't forthcoming, club officials said in trying to clear up rumors about the future of the franchise.
"There have been a lot of statements about the Utah Jazz being sold since the statement was made a week or so ago that we needed to get equity capital," Jazz President David Checketts said. "It simply is not true. It is unfounded--untrue. The team has not been sold."
Investors from Minnesota were said to be courting the club's owner, Sam Battistone, about selling the franchise. But Checketts said: "There have been no formal offers from Minnesota. No deal has been cut."
"We have not solicited offers--outside offers that would move the team," he said. "The team is on sale to Salt Lake City until April 15. On April 16, it will be on sale to the highest bidder if the limited partnerships don't sell."
Jazz officials said last week that unless they found 30 investors to buy $100,000 in limited partnerships by April 16, the club would be put up for sale. Checketts said some investors had been found and the club was looking for more.