August 28, 1988
The Seattle Seahawks have been sold to a Northern California real estate developer for about $80 million, pending approval by the National Football League and the team's owners, the Seattle Times reported in Sunday's editions. Quoting an unnamed source close to the Nordstrom family--the team's owners--the newspaper said that Kenneth Behring of Danville, Calif., tendered a second offer for the team on Saturday, which was accepted by John Nordstrom, managing partner.
August 27, 1988
Majority owner Eddie Chiles of the Texas Rangers said Friday that he has agreed in principle to sell the American League baseball team to the New York- and New Jersey-based Mack family and Frank L. Morsani of Tampa, Fla. The minority owner, Gaylord Broadcasting Co., has the right of first refusal in any purchase agreement for the team.
August 24, 1988
As expected, Bill Musselman, who coached the University of Minnesota basketball team in the early 1970s, was named coach of the Minnesota Timberwolves, a National Basketball Assn. expansion team that will begin play in 1989-90.
August 21, 1988 |
Team owners in the Class-A California League are investors in a variety of areas such as law, investment banking, insurance, pharmaceuticals and, now, entertainment. One of these is actor Mark Harmon, part-owner of the San Bernardino Spirit. Harmon, a native of Southern California and a former UCLA quarterback, financed the club's move from Ventura to San Bernardino in 1987 and retains a minority interest in the team.
August 5, 1988 |
The Major Indoor Soccer League's board of directors granted new franchises for San Diego and Tacoma, Wash., Thursday, essentially approving new ownership groups for teams that had been in those cities. The San Diego franchise was acquired out of bankruptcy court on July 29 by managing general partner Ron Fowler after the team filed for protection under Chapter 11 of federal bankruptcy laws on April 25.
July 29, 1988
Victor Kiam II, the businessman who became famous as a commercial spokesman for the electric shaver company that he owns, agreed Thursday to buy controlling interest in the New England Patriots. Under terms of the agreement, Patriot founder Billy Sullivan will remain club president and a minority shareholder, and his son, General Manager Patrick Sullivan, will retain his position. Sullivan Stadium, the insolvent home of the Patriots in Foxboro, Mass., was not included in the deal.