'84 Chronology-Show of Support

Event Date: April 16th, 1984

Event Description:  Owners Back Blitz

Source: United Press International

U.S. Football League owners and general managers are willing to help support the struggling Chicago Blitz -- at least over the short term -- to keep the franchise alive until a new owner can be found.

Acting Blitz general manager Carl Marasco said the other owners have given him the freedom to “wheel and deal” with their money to improve the Chicago franchise, the Chicago Tribune reported Friday.

Jim Valek, general manager of the New Jersey Generals, said all USFL owners must deposit a letter of credit with the league. That money is earmarked for emergencies, such as the beleaguered Blitz.

“We anticipated this,” Valek told the Tribune. “It's not unusual to lose people in a new league. This league supports the philosophy of helping Chicago. The last thing we want to do is to disrupt the schedule. We must stay with the schedule. We believe in making Chicago as competitive as possible.”

USFL Commissioner Chet Simmons spoke with the owners Thursday about the financially strapped Blitz. He said he will issue a statement on the team's position next week.

“It's important that teams like Chicago succeed,” Houston Gamblers president Dr. Jerry Argovitz told the Chicago Tribune Friday.  “And Chicago will succeed. A new stabilized ownership will come in, because the USFL is on the brink of a very substantially improved TV contract.”

Argovitz said he thinks the new television contract will speed the search for a new Blitz owner.

“Chicago will find new owners, and very shortly, I feel,” Argovitz said. “The new TV contract will take care of the team's debts. Besides, a lot of people have $200 million, but how many have their own football team? It's the most exclusive men's club there is.”

ABC, which helped to found the new league in 1983, is in the last year of its contract with the league. The network has an option to renew the contract, but Argovitz said another network also has expressed interest. “And if the ABC offer isn't considerably more substantial, we'll say, Go home,” Argovitz said.

Story-(UPI)