Peter Angelos' negotiations to buy the Tampa Bay Buccaneers and move the NFL team to Baltimore have shifted into high gear, with the Orioles owner now among the front-runners to strike a deal -- and to do it soon -- according to a top Buccaneers official.
"I would definitely classify our meetings . . . as going beyond the preliminaries. We are going to move forward with some more in-depth discussions to see if we can consummate a deal," Steve Story, one of three trustees operating the team since the death of its owner, Hugh Culverhouse, said yesterday.
Mr. Angelos, who met with Mr. Story for three hours Saturday night, concurred with his assessment, saying, "We're into the nuts-and-bolts negotiations. We're close to making the deal."
A contract to buy the team, which would be subject to NFL review, could be signed within the next few weeks, Mr. Angelos said.
Mr. Story, in Washington for the Buccaneers game yesterday, met with Mr. Angelos and his attorney, George Stamas, at Caves Valley Golf Club in Owings Mills. Their talk covered a range of specific aspects of a deal and left Mr. Story encouraged that an agreement can be completed soon.
"We're interested in consummating a deal with someone quickly," Mr. Story said.
He said he expects intensive discussions this week with Mr. Stamas, beginning with a conference call today, to hammer out the fine points of an offer for the team, he said.
Discussions will deal with several issues, including potentially up to $50 million in team liabilities, from deferred player compensation to the Tampa Stadium lease, he said.
Mr. Story described the meeting Saturday as the "most aggressive" yet. Mr. Angelos has met several times with Mr. Story, both in Florida and New York. This was their first meeting in the Baltimore area.
"Certainly he's up there in the front -- there are several front-runners," said Mr. Story, who has expressed a preference for a buyer who will keep the team in Tampa, where it has been since obtaining an expansion franchise in 1974.
The trustees also will talk this week with other interested bidders -- primarily those who want to keep the team in Tampa, including New York Yankees owner George Steinbrenner, Mr. Story said.
Mr. Angelos, the controlling partner of the Orioles, is seeking to buy the Bucs and move them to Baltimore to play in a publicly funded, $165 million stadium to be constructed adjacent to Oriole Park at Camden Yards. Funding for the stadium has been approved by the General Assembly, and the election of stadium supporter Parris N. Glendening as governor has dampened some concern that opponents would try to rescind the bonding authority.
Mr. Story, who earlier had decried a lack of specific offers to accompany the interest shown by bidders, said he and Mr. Angelos have discussed the "parameters" of a bid.
"We talked about some general parameters. He's discussing some parameters he is willing to pursue," Mr. Story said. "I think it was an encouraging meeting.
"This is the first step in creating some real activity. I think he's prepared to make an offer. I think it will be significant," Mr. Story said.
Mr. Angelos has said he is willing to offer $200 million for the team. He said he believes the Buccaneers, who play in an outdated stadium before some of the smallest crowds in the NFL, meet the league's guidelines for relocation, which require a team to be unsupported or unprofitable at home. He also predicts that the trustees will be compelled by their fiduciary responsibility to the trust to accept the highest offer.
Mr. Story declined to comment on that, but has said price would be one of several factors the trustees will consider. The trustees have said that "all things being equal," they would like the team to stay in Tampa.
Even competing bidders acknowledge they can't match Mr. Angelos' $200 million offer, made possible by the lucrative economics of the proposed stadium. They hope the uncertainty of league approval will enhance the value of their bids in the eyes of trustees.
"That's something the trustees will have to weigh," Mr. Story said.
He said yesterday that the trustees are not interested in an arrangement whereby the sale is contingent on the team being moved.
Under Mr. Angelos' offer before Mr. Culverhouse's death in August, the team would still get a fair price even if the franchise was forced to remain in Tampa.
"I think the league has made it particularly clear: they would like the franchise to stay where it is," Mr. Story said.
Mr. Angelos has said he will ask for permission from the league to move the team, but won't say what he will do if the permission is denied.
The legality of the league's current rules on relocation -- untested court -- are an object of debate among legal scholars. Trying to block such a move, especially if it is done to protect the Redskins' territory, could leave the NFL vulnerable to charges that it has violated federal antitrust laws designed to encourage competition in business.
One of the groups seeking to buy the Bucs and keep them in Tampa is prepared to "write the check," said Bruce Frey, a Chicago developer and member of the group headed by Palm Beach businessman George Lindemann.
But it won't be for $200 million, he said. "If Angelos is going to buy it for $200 million, he's got a team," Mr. Frey said yesterday. But, he added, "Why doesn't he just do it? With all deference to Mr. Angelos, stop talking about it and do it."
Among the competing bidders the trustees have heard from is a second Baltimore group, represented by local attorney Robert Schulman. Mr. Story described those talks as preliminary.
Stanley Kroenke, the prospective investor seeking a team for St. Louis, also has contacted the trustees, but seems focused on his talks with the Los Angeles Rams, Mr. Story said.
Mr. Angelos also has extended an offer to the Rams. In recent weeks, the thrust of Mr. Angelos' efforts has shifted to the Bucs, as the Rams appear to be moving closer to accepting the St. Louis offer.
Rams president John Shaw, however, said yesterday that it would be premature to assume the team is moving to St. Louis.
"It is still in the discussion stage with St. Louis with no imminent announcement. . . . I would say we are trying to get to a point with someone and complete a deal and see where we go from there," Mr. Shaw said.
As for Baltimore, he said, "They are definitely not out of the picture."