Report: McCombs reaches agreement to sell Vikings
Web Posted: 02/14/2005 12:00 AM CST
San Antonio Express-News
San Antonio businessman B.J. "Red" McCombs has reached an agreement in principle to sell the Minnesota Vikings to an Arizona businessman who could become the NFL's first African-American owner if the league approves the deal, several media outlets reported Sunday.
Reggie Fowler reportedly will buy the Vikings for $625 million, according to several reports, including one that appeared on the Minneapolis Star-Tribune's Web site.
McCombs bought the Vikings in 1998 for $246 million, including assumed debt.
"In terms of the dollars, the financing, payment schedules and such, everything seems to be pretty well set," ESPN.com quoted a source as saying. "I think they'll be prepared to present the pertinent information (to the league) in relatively short order."
The agreement also was reported by KSTP-TV in the Twin Cities and Phoenix radio station XTRA-AM.
A franchise sale must be approved by 24 of the NFL's 32 owners.
Tom Orsborn
The T'Wolves owner was playing a waiting game, thinking that he could get the Vikes for $450M. Guess he was wrong. He tried to contact McCombs to say that he was willing to talk when the exclusive negotiating period with the eventual buyer was over, but it never came to that.
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