Event Date: April 13th, 1984
Event Description: Argovitz Secures Shares
Source: United Press Internatiional
Jerry Argovitz indicated Friday that he has elected to purchase Bernard Lerner's shares in the Houston Gamblers of the USFL rather than sell his shares to Lerner.
Argovitz has 60 days to complete the transaction.Lerner said, 'This was not a power struggle or a win-or-lose situation. It was simply a case of activating a “buy-sell” provision in our shareholders agreement, which provides for one shareholder to buy out another shareholder.
“However, when you initiate the action, you have to be prepared to sell under the same terms and conditions stipulated in your offer.”
Argovitz made no comment in the statement released by the Gamblers.
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