A Lion's Roar

[pskov]

ESPN.com Update

February 12th 2003 -- Detroit, MI

Weeks of speculation have finaly been brought to a close after Detroit Lions owner Patrick Mayhew signalled his intentions to sell the franchise after owning it for just 3 seasons. Mayhew, who made his fortune in the electronics industry, is the Lions fourth owner since the Fitzgerald family sold the franchise in 1990. Mayhew's opening statement at the press conference:

"Despite our recent relative succes on the field, I have regrettably come to the decision that I must sell the Deroit Lions. When I purchased this franchise 4 years ago thsi month I declared that I could turn it around and make it a consitent challenger both on the field and off and despite three consecutive playoff apearences, the off the field concerns have made this venture impossible to continue with. Having lost over $110 million over four years, not including the $500 million I paid for the franchise initially, it has become financially infeasible. I hope that the NFL will understand my decision and that a buyer can be found quickly."

The Lions franchise, which has recorded incredible losses of nearly $350 million since 1988 (the last year the Lions made a profit) has had to be bailed out by repeated NFL rescue packages over the last decade or so. The commisioner Pete Garrett last night confirmed that the NFL "will do everything possible to prevent one of America's great sporting traditions dissapearing". Whether the other 31 owners will still be willing to cut profit in order to save their sick counsin is another matter.