Fowler’s Bid for Sockers Is Opposed : Players Assn. Wants to Protect All of Roster
The Major Indoor Soccer League Players Assn. will formally object to Ron Fowler’s bid with a federal bankruptcy court to purchase the Sockers for $700,000, because the Sockers--under Fowler’s ownership--plan to initially retain only some of the players who last season led them to their sixth indoor championship in the last seven years.
A source close to the team said the Sockers are planning to make an effort to keep goalkeeper Zoltan Toth, defender Kevin Crow, forward Branko Segota and midfielder Brian Quinn. Only then, the source said, might the team pursue other players, including all-star defenseman Fernando Clavijo, goalkeeper Jim Gorsek, and all-time leading goal scorer Juli Veee.
“The way they approached me and the way I understand it, they want to keep four guys,” said Clavijo, who confirmed the four players named by the team source. “With the rest of us, they just want to see what happens.”
Peter McGee, attorney for the Players Assn., said Monday that the association is acting because it wants all of the Socker players protected. McGee said that the Sockers intend to purchase only some Socker players’ current contracts from the bankruptcy court.
“Just like in any business transaction, the buyer decides which assests he wants to pick up,” Ron Cady, Socker president, said. “He (Fowler) can’t take them all (the players’ contracts).”
Cady wouldn’t indicate which or how many players’ contracts Fowler will attempt to retain as a part of his bid, saying only that discussions are still taking place.
Judge Peter Bowie will be asked to rule on Fowler’s offer Wednesday during a 10 a.m. hearing in federal bankruptcy court. Fowler must make clear which contracts and other assets he plans to purchase.
“One of the things they (the Sockers) are trying to do is to alleviate themselves of the burden to carry through with some of the guaranteed contracts players have already signed,” McGee said. “We don’t see why they should have the option to go into bankruptcy and get rid of their responsibilities to the players.”
The Sockers, who filed for Chapter 11 protection in bankruptcy court April 25, have debts of $1.5 million. If Fowler’s bid of $700,000 is accepted, he also would have to put up a $400,000 letter of credit with the league by July 1 and come up with approximately $350,000 in operating costs.
The Players Assn. will not be the only ones objecting to Fowler’s bid Wednesday. Golden Eagle Insurance, the Sockers’ largest unsecured creditor at $259,283 according to court documents, also will object to Fowler’s plan, Socker attorney Charles Christopher said.
“They would like Mr. Fowler’s offer to be higher,” Christopher said. “But that’s not going to happen. I’ve told them, they ought to try and put together their own investor group.”
James Munak, attorney for Golden Eagle, could not be reached for comment Monday, but Christopher said the insurance company is objecting to Fowler’s bid because it believes there has been insufficient time for another investor group to organize. Time is of the essence, however, because of the league’s insistance that the $400,000 letter of credit be paid by July 1. If Bowie doesn’t rule on Fowler’s offer Wednesday, the Sockers would fold, unless the league extends its deadline.
Commissioner Bill Kentling has said the July 1 deadline would not be extended. Kentling could not be reached Monday.
If Fowler’s bid is denied and the Sockers fold, no creditors or players would get any money.
