'85 Chronology-Establishing Priorities

Event Date: April 2nd, 1985

Event Description: Stallions Seek Concessions

Source: UPI

Mayor Richard Arrington claims the city will do everything in its power to persuade the U.S. Football League's Stallions to remain in Birmingham.

“We may be limited in the concessions we can make,” Arrington said at a news conference Thursday. “But we intend to do what we can.”

Marvin Warner, an Ohio financier, said his majority ownership in the Stallions is up for sale, but team officials said they were confident the franchise would remain in Birmingham.

Stallions president Jerry Sklar said the 16 local minority investors have raised funds to keep the team operating in Birmingham until a majority owner or additional investors can be found.

“Our local investors have worked hard for the past two weeks to make sure the franchise stays here,” Sklar said. 

“We have already put in place interim financing. We are sure we will be able to get permanent financing to keep the franchise here. I don't know how long this will take, but our investors are commatted to see this through.”

Warner, 65, is a former ambassador to Switzerland. He is being forced to give up his share of the club while trying to save his financial empire, which was shaken by the closing of his Home State Bank in Cincinnati.

Estimates are that bank customers withdrew about $150 million before the state ordered the bank closed earlier this month.

The assets of the bank have been frozen and a state investigation is underway into Home State's investment practices.

Charlotte, N.C. businessman George Shinn, who has been trying to land a team in has city for the past year, has contacted the Stallions about purchasing the team. Sklar said local investors wanted to keep the team in Birmingham.

"Our intentions are to work out the problems here," Sklar said. "We want to maintain the franchise here for a long time to come."

Both Sklar and Arrington agreed increased attendance would help the Stallions fand new investors.

“If this community wants a pro football team it must build its own,” Arrington said. 

“We cannot expect to enjoy the reputation as the football capital of the South unless we support this team.”

The Birmingham-born Warner, who lives on a horse farm outside Cincinnati, attended most of the Stallions games during the first two seasons, but has not watched the team play since its home-opener with New Jersey Feb. 24.

Sklar said Warner has not been involved in the team's operations.

“He hasn't disassociated himself with the franchise,” Sklar said. “But I think in the last couple of weeks it has been incumbent for him to pull away from the Stallions. His priorities are somewhere else right now.”

Story-(UPI)