'84 Chronology-Unpaid Bills

Event Date: May 10th, 1984

Event Description: USFL Owners Meetings

Source: United Press International

The proposed sale of the Chicago Blitz to White Sox owners Eddie Einhorn and Jerry Reinsdorf is expected to be discussed when U.S. Football League team owners meet at 5 p.m. EDT today in New York, a USFL source said.

Einhorn and Reinsdorf confirmed last week they were interested in purchasing the financially ailing Blitz, whose operation was turned over to the USFL when owner Dr. James Hoffman gave up the team.

But previous Blitz owner Dr. Ted Dietrich is expected to try and block the proposed sale until he is assured the new owners will pay all the team's bills, the USFL source said.

Dietrich, the chief creditor of the Blitz, is owed $6.7 million from a deal he organized last September when he traded franchises with Hoffman. 

Dietrich took the 1983 Chicago Blitz to Phoenix and gave Hoffman the 1983 Arizona Wranglers.

Dietrich asked his attorneys to contact the Blitz' other creditors Tuesday and inform them the team would declare "involuntary bankruptcy" after the Einhorn-Reinsdorf purchase.

Unpaid Blitz bills are estimated at $2 million to $3 million, but the team has reportedly asked its creditors to accept partial payment.

The USFL is apparently so anxious to have the White Sox owners purchase the team that they will be allowed to settle for less than the full amount the league paid to keep the franchise afloat, the Chicago Tribune said.

One reason the USFL is anxious to have the Blitz remain on the league's roster is a recently renewed contract between the ABC television network and the USFL requires the league to have franchises in Chicago, New York and Los Angels -- the nation's three top TV markets.

Story-(UPI)