The lead investor for Memphis, Tenn., said yesterday that his group would remain in the NFL expansion race after all.
On Oct. 29, three days after NFL owners deferred a decision on a second expansion city, cotton merchant William B. Dunavant said his group wanted to step back from the process and assess Memphis' chances of getting a team.
Yesterday, Dunavant cited the confusion that surrounds St. Louis' application as one of the reasons the group would reapply. St. Louis has two ownership groups contending for a franchise.
St. Louis has two ownership groups contending for a franchise and yesterday news surfaced that there may be a third group involved.
Dunavant said his group would sign a new franchise agreement and forward the required paperwork to the league office by Monday's deadline.
Memphis' financial package, which includes a down payment of $116 million of the franchise fee of $142 million, will remain the same.