Wednesday, May 31, 2006

Pritchard to Return

Now-Interim GM and Team President Steve annouced today that Kevin Pritchard's contract has been renewed and he is a candidate to fill the vacant GM position.


At 6:58 PM, Anonymous Anonymous said...

Jeld-Wen, Thomason join Terry Porter-led bid for Blazers
A seemingly longshot bid by former Trail Blazer player Terry Porter to buy Portland’s NBA franchise just gained new life — and a partner worth billions of dollars — with Jeld-Wen’s decision to join the investor group.

Jeld-Wen, the Klamath Falls company that has quietly grown from a millwork plant into one of the country’s largest door-and-window makers in the multibillion-dollar industry, has in recent weeks publicly denied interest in owning the Blazers. But the company, which has been a major sponsor of golfers and golf tournaments, recently agreed to join Porter’s potential ownership group, Rob Kremer, the Portland charter-school advocate who has been working with Porter for nearly two months to line up local investors, said today.

A Jeld-Wen spokeswoman confirmed the company’s involvement but declined to comment further.

The group is one of two known potential bidders for the struggling franchise, which ended its season with a league-worst record and the lowest attendance since moving to the Rose Garden in 1995. Hollywood Video movie-rental chain founder Mark Wattles, who now lives in Las Vegas, said recently that he too wants to buy the team if and when billionaire Paul Allen puts it up for sale.

Porter’s group has been trying to line up investors for nearly two months, anticipating it needed roughly $50 million to $75 million in equity to combine with $115 million in financing to make a bid. Among the roughly 10 partners they have lined up is Scott Thomason, founder of a chain of Oregon car dealerships.

For more information about the development, read The Oregonian tomorrow.

-- Helen Jung of the Oregonian

(Posted by Rob)

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