'86 Chronology-Gold Seekers

Event Date: May 27th, 1985

Event Description: Honolulu Gold?

Source: UPI

A group of investors apparently is interested in buying either the Denver Gold or Houston Gamblers and moving the team to Hawaii, but the owner of the Gold denied an agreement has been reached.

A spokesman for the group said it has assets of $100 million with its principal partner worth $92 million, the Houston Chronicle reported Monday.

The group says atthe moment it has an “agreement in principle” with Denver owner Doug Spedding to move the Gold of the United States Football League to Hawaii for the 1987 season. Spedding owns the USFL rights to Honolulu.

“That's not true,” Spedding said. “They just said, 'This is what we'd like to do.” I said, “OK, but first I've got to do what I've got to do. If there's a way to keep the team in Denver, we're going to keep the team in Denver. I'll call them if I need them, but I might not ever need them.”

The spokesman for the group of Honolulu investors told the Chronicle any purchase agreement would state the league would host an all-star game this fall in Hawaii to introduce the USFL to the state.

“We are going to meet with Usher on this and have already talked about it, but without reaching agreement,” the spokesman said. “We think it's important to have some kind of promotion in Hawaii prior to putting a franchise there.”

The Honolulu group approached Usher through a certified letter mailed last Friday. The group wants to deal with him to expedite the potential purchase of a USFL club.

(Story-UPI Modified*)