Thread: Fowler

Interview with Fowler on Fox 9 now

Fowler sll in the evaultion stage and hopes they can close soon. Dose have denny Hecker as a Investor. says hes been owrking on a deal since summer. wants to close by sunday.

he wants to close the deal in selling the team by this sunday?

News reported tonight Fowler entered into an exlusive rights to negotiate a contract with the Texan(Red).
Which means he gets first shot at a deal.Also he was house shopping in Minnetonka today.

He said he has enough money and that he would not have gone this far if he did not have the money. His right to negotiate a contract lasts for 60 days and I don't think Red would enter into a deal like that if he did not have enough dough. They also said there should be a purchase agreement within 7 to 10 days.

"Toss2Moss84" wrote:

News reported tonight Fowler entered into an exlusive rights to negotiate a contract with the Texan(Red).
Which means he gets first shot at a deal.Also he was house shopping in Minnetonka today.

He said he has enough money and that he would not have gone this far if he did not have the money. His right to negotiate a contract lasts for 60 days and I don't think Red would enter into a deal like that if he did not have enough dough. They also said there should be a purchase agreement within 7 to 10 days.

So does that mean that he has 60 days and taht is all or nobody else can bid on it like Taylor for 60 days.

Arizona entrepreneur Reggie Fowler has entered into an exclusive negotiating agreement with Vikings owner Red McCombs, a person with knowledge of the situation said Monday, putting Fowler one step closer to purchasing the franchise.

Fowler has yet to make an offer for the team, but the contract gives him an exclusive window to negotiate a purchase agreement with McCombs. During that period, believed to be 60 days, McCombs cannot negotiate with any other potential bidder.

Fowler is willing to pay McCombs the more than $600 million the Vikings owner is asking for the team, sources have told the Star Tribune. However, McCombs said last week that he doesn't believe Fowler has the money to buy the team.

The deal came after Timberwolves owner Glen Taylor visited McCombs in San Antonio over the weekend. Taylor, Fowler's primary competitor to buy the Vikings, proved unwilling to meet McCombs' asking price during the weekend meeting.

Should Fowler and McCombs sign a purchase agreement within the exclusive rights period, Taylor would be powerless to make a counteroffer.

McCombs outbid Taylor to buy the team in July 1998, paying $246 million, including assumed debt.

Fowler attended Monday night's game between the Timberwolves and Detroit at Target Center, sitting in a front-row seat with local businessman Denny Hecker and John Mistler, a longtime confidant. Mistler, who attended Arizona State University and played five NFL seasons as a wide receiver, is the color radio analyst for the Arizona Cardinals.

Fowler, owner of Spiral Inc., has said he would move to the Twin Cities if he purchased the Vikings, and he told reporters Monday night that he spent part of Monday hunting for houses near Lake Minnetonka.

Fowler's personal wealth is unknown but he has cultivated a deep-pocketed group of investors, most of whom have large real estate holdings in New York and New Jersey. The Wilf family of Short Hills N.J., and New York real estate mogul Alan Landis are among his investors. Hecker also would be part of the deal, but Fowler would be the managing partner. NFL rules require the lead investor to put up at least 30 percent of the purchase price, and the team cannot be used as security for a loan.

McCombs, who has been attempting to sell the team since May 2002, has not returned calls during the past two weeks. Team President Gary Woods has acknowledged speaking with Fowler several times, and Fowler apparently met with McCombs last week in San Antonio.

Taylor, meanwhile, followed Fowler to San Antonio last weekend.

"VikesFan111" wrote:

"Toss2Moss84" wrote:

News reported tonight Fowler entered into an exlusive rights to negotiate a contract with the Texan(Red).
Which means he gets first shot at a deal.Also he was house shopping in Minnetonka today.

He said he has enough money and that he would not have gone this far if he did not have the money. His right to negotiate a contract lasts for 60 days and I don't think Red would enter into a deal like that if he did not have enough dough. They also said there should be a purchase agreement within 7 to 10 days.

So does that mean that he has 60 days and taht is all or nobody else can bid on it like Taylor for 60 days.

My understanding is that the 60 day exclusion is only for the purposes of discussion and negotiation. However if someone, like Taylor, wanted to come in with a bid then they could do. Of course the disadvantage for the external bidder would be that they may be offering more than Fowler is haggling with Red over. I'd suspect that if Taylor did offer the $600m that was asked for then Red may give Fowler a chance to match or exceed and that would be it.
However I may be wrong so if someone cares to correct me on this then go ahead

I just find it hard to believe that anyone would offer $600M when they will have to turn around and put $200M more into a stadium. He's even talked previously about using private funding for a stadium.

"SKOL" wrote:

I just find it hard to believe that anyone would offer $600M when they will have to turn around and put $200M more into a stadium. He's even talked previously about using private funding for a stadium.

Then again this discussion may lead to Red selling for less than he wanted if he is really keen to sell. I wouldn't be surprised to see there being some form of privacy clause on the sale which stops public knowledge of what the exact sale figure was. That way Red can come out without losing face

I have heard something about fowler developing land around a possible staduim. I think the staduim and the land around would be one big deal like what the jets are doing in NYC. That would be great if fowler could pay for the stadium because the great brains in St. Paul havent been able to do anything more that fart the last few years.