THE SIDELINES : Maple Leaf Takeover Foiled: Ballard

Harold Ballard, owner of the Toronto Maple Leafs, says he’s averted a possible takeover of the team and Maple Leaf Gardens.

Ballard agreed Tuesday to buy 24% of the common shares of H. E. Ballard Ltd., held by his son, Harold Ballard Jr., for $25 million.

Ballard, 85, said his eldest son, Bill Ballard, Molson Breweries and Concert Productions International were working together to combine the stock of Ballard’s three children and assume controlling interest in the Gardens and the hockey team. But by buying the shares in H. E. Ballard Ltd., he said he has eliminated the possibility of a takeover, which might have occurred as soon as today. Harold Ballard now will own 70% of the common shares of the company.