Court decision grants Pilots permission to sell franchise to Milwaukee interests
SEATTLE (UPI) — A Federal Bankruptcy Court referee granted owners of the financially plagued Seattle Pilots permission Tuesday night to sell their one-year-old American League baseball franchise to Milwaukee interests.
Sidney C. Volinn, the bankruptcy court referee to whom the Pilots turned for help out of their financial morass, ruled a $10.8 million offer for the purchase of the club by the Milwaukee Brewers was in order.
Since the American League had voted approval for transfer of the club from Seattle to Milwaukee in a telephone conference call on Monday, the Pilots became the Milwaukee Brewers upon Volinn's consent. The Brewers had signed a purchase agreement for the Pilots on March 8 and the agreement was to expire at 10 am. CST Wednesday.
Thus, Milwaukee, without a big league club since the Braves moved to Atlanta four years ago, rejoined baseball's select group, only this time as a member of the American League.
For Seattle, it marked one of the shortest lived franchises in the history of baseball. You have to go all the way back to the turn of the century to find another city which held a big league franchise for so short a time. The Pilots reportedly lost $1 million in their one and only season in Seattle and stood to lose another $1.5 million if they remained there this year.
Volinn's ruling came after a last ditch effort for dismissal of the case from bankruptcy court by William Dwyer, special Washington state assistant attorney general, was turned down.
Volim listened to testimony day long in a steamy, hot court room before calling a halt at 3:50 p.m. PST.
He set the next hearing for 10
am. Wednesday but was reminded that he ran the risk of voiding the contract entered into by the Pilots and Brewers. It was then that he said he would reach a decision Tuesday night.
Jo Jo to coach at Owens' camp
Jo Jo White, former KU great and Olympian performer who just completed his rookie season with the Boston Celtics, will be an instructor at all four one-week sessions of Ted Owens' basketball camp this summer, the Jayhawk cage coach announced Tuesday.
The first session of the camp is June 7-13. The other three sessions begin June 14, June 21 and June 28. Additional information about the camp may be obtained by writing: Jayhawk Basketball Camp, 1116 West Hills Parkway, Lawrence, Kansas 60644.
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Left standing is an anti-trust suit filed by the city of Seattle and the state of Washington seeking $82 million in damages from the American League and the ire of Seattle baseball fans, among them U.S. Senators Warren Magnuson and Henry Jackson. The two have said they will move for enactment of a bill which would do away with baseball's immunity from the antitrust laws, which the sport has enjoyed since a 1922 Supreme Court ruling.
Apr.1 1970
The American League came out of the mess with egg on its face and William Daley and Dewey and Max Soriano, principal Pilots owners, with a $1 million profit for holding the franchise just one year.
Volinn said he pondered long and hard over his decision and came to the conclusion that he had only one way to go.
"This is a problem of major magnitude because of the time element," Volinn said. "It might be a burden on all parties under the circumstance and because of the imminence of the baseball season an emergency does exist.
"This matter presents a posture in which the doctor is without funds and the only alternative would be deficit financing by the American League, perhaps upwards of $10 million.
"It's obvious that the club can not pay its debts and may well be insolvent.
"The unique character of a major league baseball team has been
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II of the bankruptcy ace he is obliged to take their interests under consideration as well as those who came to him for help.
considered and its importance to the community has been considered but it's obvious that the Pilots are incapable of carrying
Volinn's concern, too, was the long line of creditors the Pilots have picked up. Under Chapter
on. That is beyond the question."
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Hillteacher Nominations
- Due April 13—Turn in at the Information Desk in the Student Union.
- Selection will be based mainly on one criteria: the impact the teacher has made in the classroom. This will include a far wider range of candidates than before. Keep that in mind.
- Nominations must be signed by 3 students. Include all those assets you feel qualify the person.
- Selection will be made by a committee of 3 faculty members and 6 students.
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