Event Date: September 20th, 1983
Event Description: Tathams Take Control
Source: United Press International
Bill Tatham Sr. and his son, Bill Jr., will take over 75 percent ownership of the new Arizona Outlaws franchise under terms of a merger contract between the ex-Wranglers’ franchise and the Chicago Blitz, according to a published report.
The Arizona Republic quoted “highly-placed” sources as saying that current owner Ted Diethrich and his minority partners would be reduced to 25 percent or less of the franchise.
A “cleanup of very minor items” is the only obstacle facing the final sale, according to the report.
The deal originally called for a 50-50 partnership in the club, but Diethrich later asked the Tathams for a larger financial commitment, the source said.
Diethrich has admitted losses of well over $2 million in his first year in the USFL. His financial problems were increased after he sold his original team, the Chicago Blitz, and bought the now defunct Wranglers from Jim Joseph.
At stake was Diethrich's primary source of income, the Arizona Heart Institute. It is not known what percentage of the team Diethrich's minority partners, George Allen and Bill Harris, will assume, but it is believed to be around ten percent.
Story-(UPI Modified)
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