The Nation - News from Aug. 7, 1988

Jim Bakker and other bidders for bankrupt PTL said they were stunned by a pledge to sell it to Canadians who want to use it as a resort devoid of that old-time religion that has long been its staple. PTL’s bankruptcy trustee, M. C. (Red) Benton, had reported he had tentatively agreed to sell the ministry’s assets to Samoth Capital Corp. The sale of the Heritage USA Christian theme park in Ft. Mill, S.C.; the PTL network, and 1,700 undeveloped acres must be approved by the U.S. Bankruptcy Court. Bakker said he will continue efforts to buy PTL. “I sincerely believe before the end of the month we’ll have our offer finalized,” Bakker said. “There are incredible differences in the two plans and I think the creditors cannot possibly prefer theirs to ours--we’re talking cash, not pay-outs over years. And there are other differences, important differences,” he said. “Their plan is for a non-religious theme park. We started PTL and will continue PTL as a Christian center in the manner in which it was founded.”