January 07, 2005
Stamps sale parties will meet on conference call
Several scenarios are developing as a local
group continues its quest to finalize a deal to buy the Calgary Stampeders.
Although the Ted
group's purchase of the CFL franchise is still the most likely outcome,
insiders claim a deal with current owner Michael
should have been completed by now.
All parties are expected to partake in a
telephone conference call this morning in an attempt to iron out the final
details while a deadline to complete the transaction has been pushed back to
the end of next week.
The issues holding up the deal apparently
include who will assume responsibility for costly severance packages for
and GM-head coach Matt
, who both have two years remaining on their
Those buyouts could exceed $1 million.
The new ownership group would reportedly
hire Tom Higgins to replace
Stampeders president Stan Schwartz to return to his former role.
Schwartz has been helping to conduct the new
ownership team's due diligence process.
If a deal can't be finalized, local
businessman Bruce Urban could become a factor.
Should a sale to the local group fall
through, Urban could step in to make an offer to buy the team outright or form
a partnership with
Urban surfaced unexpectedly Wednesday as a
possible suitor for the team and is now directing all inquiries to his lawyer,
"The speculation is that these things
don't go on forever,"
"The purchaser does due diligence and
comes to a conclusion one way or the other and either a deal's done or it isn't.
We're hopeful that it's not in the too distant future that it's clear one way
or the other."
Meanwhile, despite uncertainty surrounding
regime's future, director of
Canadian player personnel Miles
attend the East-West Shrine Game Jan. 15 in San Francisco.
"It's business as usual and nobody's
told me different," said
, whose contract
expires at the end of January.
wants another look at three Canadians including
McMaster running back Jesse
, who the
Stampeders could select first overall in April's Canadian college draft.
has been vacationing in Mexico and is expected to
fly back to Calgary this weekend before returning to his office next week.
was unavailable for comment.