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Sports Franchises State Aid

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October 2, 1992 | From Staff and Wire Reports
The Hartford Whalers received a $29-million assist from the state of Connecticut to refinance existing debt, a move aimed at ensuring that the team stays in the city. The package includes a $4-million, seven-year loan that Whaler owner Richard Gordon will use to buy the bankrupt Colonial Realty Co.'s 37.5% share in the team, raising his stake in the team to 76%.
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SPORTS
October 2, 1992 | From Staff and Wire Reports
The Hartford Whalers received a $29-million assist from the state of Connecticut to refinance existing debt, a move aimed at ensuring that the team stays in the city. The package includes a $4-million, seven-year loan that Whaler owner Richard Gordon will use to buy the bankrupt Colonial Realty Co.'s 37.5% share in the team, raising his stake in the team to 76%.
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