'84 Chronology-Opportunity Knocks

Event Date: October 12th, 1984

Event Description: Roulier May Buy Express

Source: United Press International

The Los Angeles Express lost $17 million this year, but a co-owner of the Houston Gamblers Tuesday was considering buying the club because it is 'the world's greatest opportunity.'

The USFL franchise has been for sale nearly four months -- since the league took over operation of the franchise from J. William Oldenburg in July. But Jay Roulier said he still wants the team.

“People have a fear of the L.A. deal because of Oldenburg losing money," Roulier said. “I see it as the world's greatest opportunity. They have a hell of a team, a great quarterback and it's an important franchise to the league.”

Roulier has asked the USFL to allow him to sell his $4 million equity in the Gamblers or transfer it to the Express.

“All I can tell you is what Don Klosterman, our president, has said,” Express spokesman Bob Rose said in Los Angeles. “He has confirmed that Roulier is one of the prospective, interested buyers. That's about all. Obviously it's been a very tedious, long process in selling the club, and it's been the wishes of the people involved to keep it as private as we can.”

All mergers and club acquisitions must be completed by Oct. 19-21 when league owners convene at Amelia Island, Fla.

“I won't go into details, but I think there is good sentiment in the league for me to take over the L.A. franchise,” Roulier said.

But Roulier said he will not move to buy the Express until he finds a new partner for the Gamblers. "I won't sell out until Jerry (Argovitz) has a partner," he said. “I think Jerry has someone in mind.” Argovitz, Alvin Lubetkin and Roulier each owns 33 1-3 shares of the Gamblers.

Roulier and North Carolina businessman George Shinn earlier visited Los Angeles to discuss purchase deals with Express general manager Don Klosterman. But a spokesman for Shinn said Monday his interest in the purchase had declined.

If the USFL allowed Roulier to use his equity in the Gamblers toward purchasing the Express, he actually would pay nothing for the franchise.

“The cost of running L.A. is substantially more than running Houston,” he said. “The entry fee means nothing.”

Story-(UPI)