Buyers looking at Disney sports teams - source
August 7
LOS ANGELES (Reuters) -- The Walt Disney Co. <DIS.N> is talking with "credible" buyers about the sale of its Anaheim Angels baseball and Mighty Ducks ice hockey sports franchises, a source familiar with the situation said on Wednesday.
Talks are in progress with more than one potential buyer, and could involve deals for one or both teams, said the source who spoke on condition of anonymity.
"There are credible people who have made credible inquiries," the source said, adding that several such parties have looked at the teams over the last two years. "It's hard to say which direction they're going."
A Disney spokesman had no comment on a possible sale.
The company has said in the past it would be open to a sale of the teams, provided the buyer is reputable and agrees to keep the franchises in Anaheim where Disney has built up an entertainment complex centered on its Disneyland resort.
Reports about a potential sale have cropped up periodically since the late 1990s, when Disney first said it would consider selling the teams that were not considered central to its core entertainment business.
Henry Nicholas, co-founder of Broadcom Corp., was reportedly in talks to buy the team in 1999, but a deal was never reached. At the time, the two sides were reportedly discussing a price of $400 million to $500 million, according to media reports.
More recently, former Florida Marlins owner John Henry also expressed interest in the team last winter before joining the group that bought the Boston Red Sox. Alabama banker Donald Watkins also met with Disney officials earlier this year to discuss buying the team for a preliminary price of $250 million, according to media reports.
Disney acquired the Angels in 1996, but has struggled with the team -- now involved in a pennant race -- since then. According to Major League Baseball, the club lost $99.8 million from 1995 through 2001.
The Mighty Ducks unveiled their team colors in 1993, and are named after a Disney movie of the same name.
08/07/02 20:44 ET
August 7
LOS ANGELES (Reuters) -- The Walt Disney Co. <DIS.N> is talking with "credible" buyers about the sale of its Anaheim Angels baseball and Mighty Ducks ice hockey sports franchises, a source familiar with the situation said on Wednesday.
Talks are in progress with more than one potential buyer, and could involve deals for one or both teams, said the source who spoke on condition of anonymity.
"There are credible people who have made credible inquiries," the source said, adding that several such parties have looked at the teams over the last two years. "It's hard to say which direction they're going."
A Disney spokesman had no comment on a possible sale.
The company has said in the past it would be open to a sale of the teams, provided the buyer is reputable and agrees to keep the franchises in Anaheim where Disney has built up an entertainment complex centered on its Disneyland resort.
Reports about a potential sale have cropped up periodically since the late 1990s, when Disney first said it would consider selling the teams that were not considered central to its core entertainment business.
Henry Nicholas, co-founder of Broadcom Corp., was reportedly in talks to buy the team in 1999, but a deal was never reached. At the time, the two sides were reportedly discussing a price of $400 million to $500 million, according to media reports.
More recently, former Florida Marlins owner John Henry also expressed interest in the team last winter before joining the group that bought the Boston Red Sox. Alabama banker Donald Watkins also met with Disney officials earlier this year to discuss buying the team for a preliminary price of $250 million, according to media reports.
Disney acquired the Angels in 1996, but has struggled with the team -- now involved in a pennant race -- since then. According to Major League Baseball, the club lost $99.8 million from 1995 through 2001.
The Mighty Ducks unveiled their team colors in 1993, and are named after a Disney movie of the same name.
08/07/02 20:44 ET