Malcolm Glazer may not be buying the New England Patriots after all.
Fran Murray, the minority owner of the Patriots, said today that majority owner Victor Kiam has not been able to make a deal to sell the team to Mr. Glazer, a Florida businessman who heads one of the three groups that filed an application for an National Football League expansion team for Baltimore.
The Patriots will likely be taken over by the NFL.
"I got an indication from Victor that they would not able to make a deal. I know they both tried and were simply unable at this point to find a common ground," said Mr. Murray, who had not participated in the negotiations. Mr. Glazer had been negotiating to buy the team from Mr. Kiam since last Friday.
It's uncertain, however, if Mr. Glazer will return to the Baltimore expansion picture. Mr. Glazer, a Rochester, N.Y., native, heads First Allied Corp. from an office in Boynton Beach, Fla.
"I said earlier that this wasn't a done deal and certainly [Glazer] could very well rejoin that effort as though this had never occurred. That's my view," Mr. Murray said.
Neither Mr. Kiam nor Mr. Glazer has commented since the talks began.
The NFL is now expected to take over the team at the NFL's annual meeting in Phoenix starting March 15. The league will attempt to find a buyer on its own.
Mr. Murray said earlier this week that Glazer was attempting to buy the team for $110 million, including $27 million in cash.
It's possible that during talks with Mr. Kiam, Mr. Glazer found he would be unable to move the team if Massachusetts failed to come up with a new stadium.
Under the terms of the lease at antiquated Foxboro, Mass., stadium where the Patriots play, the team gets no revenue from such things as luxury boxes and concessions.
"The income in Foxboro is zero to the team and you can't get any worse than that," Mr. Murray said.
The league wants to keep the team in New England because it is the nation's sixth largest television market.