NFL gets report on Ravens sale

January 12, 2000|By Jon Morgan

The finance committee of NFL owners received a report yesterday on the proposed sale of the Ravens but is not expected to take up the matter again until next month at the soonest, according to a league spokesman.

The committee, meeting in New York, was briefed on the tentative agreement between Ravens owner Art Modell and new investor Stephen Bisciotti, said NFL spokesman Greg Aiello. No action was taken and the deal is not on the agenda for next week's meeting of all NFL owners.

"I think it will probably be early to mid-February before the league looks at it again," Aiello said.

Final details are still being worked out between Bisciotti and Modell. The agreement struck last month calls for Bisciotti, an Anne Arundel County businessman, to pay $275 million for 49 percent of the team and an option to purchase the rest for $325 million in four to six years.

Once the deal is completed, it must be approved by a vote of NFL owners.

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