Ziggy to own Vikes?

[CaP'N GRuNGe]

Ziggy speaks

 

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http://www.startribune.com/stories/503/5391388.html

 

New key player in Viking purchase not looking to move team

Randy Furst and Jay Weiner, Star Tribune

May 8, 2005

 

Zygmunt Wilf, the New Jersey developer who seems headed towards controlling the Minnesota Vikings, said Saturday he won't move the team, he won't reveal his net worth, he's exploring stadium options and that Reggie Fowler is still his partner.

 

Breaking his silence after three months of dodging media inquiries, Wilf wouldn't confirm that he is in line to be the general partner of the NFL franchise, although multiple sources have told the Star Tribune that's the case.

 

But the 55-year-old lawyer and son of Holocaust survivors spoke like a man eager to own the state's most popular sports team.

 

"I love football," Wilf said in a telephone interview from his New Jersey home, adding he plans to trade in his New York Giants' season tickets, which he's owned for 30 years, for Vikings season tickets.

 

Wilf was in the Twin Cities last week meeting with land owners from Blaine and Lino Lakes about possible sites for a new Vikings stadium.

 

He didn't rule out seeking public funding for a new Vikings stadium.

 

"We are exploring various options," said Wilf. "We are in the middle of a learning curve and learning about stadium issues." Sources told the Star Tribune last week that Wilf has replaced Arizona businessman Reggie Fowler as the general partner of the group seeking to purchase the Vikings. In the NFL, the general partner must own at least 30 percent of the franchise and then controls the team's operations.

 

Fowler has not returned phone calls and Wilf declined on Saturday to confirm his role in the ownership group.

 

Wilf's son, John, said in a brief interview that an announcement was expected by the National Football League on Monday, but he would not say what that announcement would be. Zygmunt Wilf would not confirm that the NFL would say anything on Monday.

 

NFL spokesman Greg Aiello said Saturday that the league is being kept apprised of the ownership matters.

 

Fowler's efforts to buy the Vikings have stumbled because he has been unable to come up with the necessary cash to satisfy the NFL's requirement for general partner status. The Star Tribune has reported on Fowler's attempted sale of his aviation business, SATCO, to an unknown Georgia-based financial services company called UBG. That deal hasn't been closed.

 

Asked if Fowler would remain a part of the ownership group, Wilf said "absolutely," adding: "The partners have had discussions regarding the structure of the ownership. The NFL is aware of ownership discussions and when this issue is resolved, this information will come from the NFL."

 

Retail developer

 

Wilf is the chief operating officer of Garden Commercial Properties, a firm that is the 19th-largest manager of retail development properties, according to the April 1, 2005 edition of a Retail Traffic, a business publication.

 

The company is privately held, and claims to operate 30,000 apartment units. While the family-owned company may be well-financed, the NFL must determine whether Zygmunt Wilf's pockets are deep enough to win approval from NFL owners.

 

Asked about the value of his company and of himself personally, Wilf declined to give details.

 

"We have a family business that has operated over 50 years," he said. "I have made it a practice not to discuss financial issues."

 

Fowler's public reluctance to share details about his personal wealth created questions about his ability to buy the team.

 

Wilf said that the NFL has reviewed the group's finances.

 

"We are still in discussion regarding the structure of the group," Wilf said. "The NFL is fully aware of everything."

 

Asked if there was any chance he might buy the Vikings and move them to another state, Wilf said: "No way. That is not even an option. This is a storied franchise and our group is looking forward to making this a world-class organization. We are looking to build a world-class NFL franchise on and off the field for the fans in Minnesota. ... Our entire group and the Wilf family has a strong commitment to our community. We are very excited to extending that commitment to the Twin Cities area."

 

Fowler was to have become the first black owner of an NFL team.

 

Ironically, Wilf's company has had at least one race discrimination complaint against it.

 

Wilf was asked about a lawsuit filed in 1999 by the Justice Department against Garden Homes Management, a company in which he and his family are involved. The suit alleged that three apartment complexes they owned in New Jersey refused to rent to African-Americans.

 

"It was an unfortunate incident that got corrected," Wilf said. "It is not a reflection of the way we operate our interests."

 

Fowler and current Vikings owner Red McCombs announced last February that the franchise would be sold. Fowler was to be the general partner. Wilf and three or four other men were to be limited partners.

 

Low-key approach

 

The reported Vikings sale price is $625 million.

 

Like Fowler before him, Wilf will need to come up with at least $150 million in cash for his share of the $625 million purchase price.

 

Other parts of his investment can be borrowed. Zygmunt Wilf has maintained a low profile, even though his company has been a major player in the real estate industry, especially in New Jersey. "He's become very successful with a low-key approach," said Vikings lobbyist Lester Bagley of Wilf's aversion to media coverage and preference for secret meeting. "He would prefer to be in the background. But I keep telling him that becoming an NFL team owner will not exactly put you in the background."

 

Said Blaine Mayor Tom Ryan: "He pretty much takes control of a meeting. He doesn't monkey around."

 

Wilf told people last week that he's been a New York Giants fan since he was a little boy and that, in 1969, at age 19, he missed the fabled Woodstock rock festival.

 

Why?

 

To attend a Giants preseason game against the Jets in New Haven, Conn.

 

Research by the Star Tribune confirmed that the Giants played in New Haven on August 17, 1969, one day before Woodstock ended.

 

Wilf also told Anoka County officials that he already knew the date that the Giants and Vikings are scheduled to meet this coming season: Nov. 13, in the Meadowlands, not far from his New Jersey home.

 

"He was already hyped up that the Vikings would beat the Giants," said Steve Novak, the county's stadium pointman.

 

Whether Wilf will own the Vikings by November, or at all, may be resolved at NFL owners' meetings in Washington, D.C. May 24 and 25

[spain]

How appropo! If any team should be owned by the child of a holocaust survivors it is the Vikings! The Vikes fans have been gassed, tortured, starved, and held prisoner for years! And then had the threat of the "final solution", moving to LA, hanging over their heads for years. Sounds like a good fit..

[pedroz13]

How appropo!  If any team should be owned by the child of a holocaust survivors it is the Vikings!  The Vikes fans have been gassed, tortured, starved, and held prisoner for years!  And then had the threat of the "final solution", moving to LA, hanging over their heads for years.  Sounds like a good fit..

 

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What is wrong with you Spain? Making light of something like the Holocaust is absolutely inappropriate.

[CaP'N GRuNGe]

What is wrong with you Spain?  Making light of something like the Holocaust is absolutely inappropriate.

 

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You obviously haven't been around spain enough. There's nothing PC about him.

[NAUgrad]

How appropo!  If any team should be owned by the child of a holocaust survivors it is the Vikings!  The Vikes fans have been gassed, tortured, starved, and held prisoner for years!  And then had the threat of the "final solution", moving to LA, hanging over their heads for years.  Sounds like a good fit..

 

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Nice Avi!!! You think she's looking for clittylitter?

[MikesVikes]

Ziggy seems more than happy to build a stadium here. In fact I get the impression that he would car less about the Vikings if the huge stadium complex wasn't in the works. He definetly wants to build and just not re-locate to an existing stadium. What fun would that be?

[pedroz13]

You obviously haven't been around spain enough. There's nothing PC about him.

 

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I don't really consider myself 'PC' at all, but there are lines.

[THE SIX KINGS]

McCombs confident Vikings will be sold by June to Wilf's group

Associated Press

National Football League News Wire

 

MINNEAPOLIS -- Minnesota Vikings owner Red McCombs said Monday he's confident his team will soon be sold to the investor group now headed by New Jersey real estate developer Zygmunt Wilf.

 

"Sounds like Zyggi's going to be the biggie," McCombs said, chuckling from his San Antonio office. "That's what they're planning right now."

 

He's serious about this transaction, though, and he expressed no doubt about its completion.

 

"I expected it to close when we signed, and I still do," said McCombs, who is anticipating the sale to close sometime in June.

 

"I don't have a drop-dead date," he said.

 

The deal has been in the works for nearly a year now, and the purchase agreement was announced three months ago. At that point, Arizona businessman Reggie Fowler -- who could have become the NFL's first black owner -- led a group that included four limited partners.

 

One of those partners was Wilf, who has since assumed the lead role -- presumably because Fowler has been unable to raise the money required to be in charge. By league rules, the general partner must have a 30 percent stake in the franchise. McCombs is selling the club for a reported $625 million.

 

Wilf told the Star Tribune over the weekend that he won't move the team and that Fowler remains part of the group, but he has not done any other interviews. Fowler has not commented since February. NFL spokesman Greg Aiello, through his secretary, said there was no timetable for an official announcement regarding the Vikings ownership structure.

 

McCombs confirmed that Fowler will actively continue with the group and said it was possible for him to reassume control in the future if he's financially able.

 

"They have that option in our contract with them, and they keep us apprised," McCombs said.

 

McCombs is still in charge of daily operations, continuing to speak regularly with vice president of football operations Rob Brzezinski and coach Mike Tice. League owners are expected to vote on the purchase at their spring meetings on May 24 and 25 in Washington, D.C., and McCombs said he'll be there representing the Vikings. He said he fully expects his fellow owners to approve (at least 75 percent is required).

 

"We'll be making all the decisions and make every move until it is completed, saucered and blowed," McCombs said, switching briefly to Texas vernacular.

 

The next question: Will McCombs be included in the vote on the sale of his own team?

 

"No one has told me about that -- I don't believe I'd be voting against it," McCombs said.

[MikesVikes]

This is the NFL. The league doesn't care if your white or black or even if you're from Tennessee.

 

They care about one thing. Money!

Edited May 10, 2005 by MikesVikes

[alexgaddis]

I thought they proved the holocaust never happened?

[SGE_VIKE]

Well I hate Bob Sansever but I have to agree with him. This group has not to date been up front with anyone. I would rather have Red keep the d@mn team. Remember the counsel of 12? Walker deal? This group has 3 primaries and 1 secondary. I do not like this team in his hands since they are looking at turning a quick profit. The family made Billions and it took only 50 years. Not bad income from just a small mom and pop gig that his family started.

 

I would love to have Taylor buy them BUT he is just too darn cheap. Now if they get stadium financing like the Twinkies got that would be a good thing.

[Dr. Love]

What is wrong with you Spain?  Making light of something like the Holocaust is absolutely inappropriate.

 

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A better question might be: what isn't wrong with Spain? It would make for a shorter answer.

[Ursa Majoris]

I would love to have Taylor buy them BUT he is just too darn cheap. Now if they get stadium financing like the Twinkies got that would be a good thing.

 

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It's not Taylor that's cheap, it's the incessant whiners complaining about building a stadium - any freakin' stadium. Even the Gophers can't get a worthwhile building.

 

And the Twins don't have that deal set in stone yet, not by a long way - they have to get past the whiners first.

 

The only wallets sold in Minnesota have padlocks on 'em and are nailed shut.

Edited May 11, 2005 by Ursa Majoris

[Outshined]

I totally agree about the Whiners. Not sure about the Gophers, but I think the Twins stadium bill will pass on this legislative session. It looks like a good deal without pubic funding (huge loan).

 

Edit: Now if they would just something done similar to that for the Vikings.

Edited May 11, 2005 by Outshined

[SGE_VIKE]

Gophers are getting the TCF stadium and yes I agree with you on the topic there are a ton of whiners around this area and the pocket books are locked tight. Yet Taylor was bidding with the option of getting a stadium of only 550. That included verbage that would pay Old Red 100 more after the stadium deal was completed. So realistically he was under bidding the asking price which someone else was going to purchase. Which makes you wonder why a very good businessman was going to throw down more cash to buy the team ...

 

We will get Ziggy and his traveling circus buying the team and selling huge on the new stadium deal in LA. Canada Smith tried the Wizanator Ziggy might try something similar to mask the deal behind LA. Am I worried? Yeah I am cause moving the team will get a stadium and a couple of briefcases with unmarked bills for Ziggy and his circus.

 

Sorry but something does not add up.

[BillyBalata]

While I agree about all the whiners in the state and their padlocked wallets, I also equate all the handwringers about the team moving in the same bunch. No offense meant SGE. But if it ain't Taylor, then everyone is running around woe is me, he's not the local guy, we can't have this. Maybe people should start welcoming the outside guys and they might not feel like they can't get any cooperation from anyone.

 

Bottom line, and everyone else has said it, Ziggy appears to be in this more for the money he can make in real estate. Think about it...why would an east coast guy all of the sudden want to try and develop something out on the west coast? And really, what is left to try and develop in LA? How much more growth can their be? The Blaine/Anoka area is prime land waiting for someone to develop it. The potential to grow and expand and reap the profits is there for the next 20 years.

[SGE_VIKE]

No offense taken but there is a difference I have no issue with spending the money for the stadium and the pocket book does not let me write a 625 million dollar check, well it can but I would be doing some hard time for that rubber bounce. My problem is trusting the outside group that has been less then honest with media and the area.

 

While I agree about all the whiners in the state and their padlocked wallets, I also equate all the handwringers about the team moving in the same bunch. No offense meant SGE. 

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Bottom line, and everyone else has said it, Ziggy appears to be in this more for the money he can make in real estate. Think about it...why would an east coast guy all of the sudden want to try and develop something out on the west coast? And really, what is left to try and develop in LA? How much more growth can their be?  The Blaine/Anoka area is prime land waiting for someone to develop it. The potential to grow and expand and reap the profits is there for the next 20 years.

 

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Good point especially when you say money he can make. Moving a franchise to LA would generate close to that billion mark that has been talked about. That would be a net profit of 300+ million within 2 years. Now that is a return on an investment. Much as the same as what Red got.

 

What my concerns really are center around the honesty of this group. There has not been much. Am I mad about Taylor, no. He did not want the team enough to bid the amount asked. Fowler did BUT he was been less then honest. Now Ziggy a East Coast billioniare. Just nervous about what the true intentions are. Do I see them moving? Not sure. If they can get the same gig that the Twinkies did for a stadium cool beans and the Vikes will be here for a long time.

 

You are right about up North having a ton of area to develop. Should be interesting on what will happen. I just hope that when the dust settles it works out. I just have a hard time trusting a group that has doctored a resume, hid financials, bad reporting, and really do not have a public showing. I know that North Dakota/Minnesota Norweign stubborness and isolationistic personality but really would you trust a group like that from the get go? In the end we will not have a choice.