Tampa Bay Devil Rays, Ltd., Naimoli Baseball Enterprises, Inc., Tax Matters Partner - Page 6




                                        - 6 -                                         
          licenses of major league baseball names, logos, and emblems                 
          (apparently because the partnership in 1996 began selling                   
          merchandise reflecting the Devil Rays’ logo).                               
               From March 1995 until November 6, 1997, the partnership                
          worked diligently to satisfy the above requirements and                     
          conditions, working with third parties whose cooperation and                
          approval was necessary.  The partnership obtained the financing,            
          and on the scheduled installment dates the partnership paid major           
          league baseball the $130 million franchise fee.                             
               Beginning in 1995 and continuing through 1996, 1997, and               
          1998, through various affiliation agreements with, among others,            
          Suncoast Baseball, Inc., Orlando Rays, Inc. (a subsidiary of                
          petitioner), and The Durham Bulls Baseball Club, Inc., the                  
          partnership established minor league baseball teams based in                
          Florida, North Carolina, and elsewhere.                                     
               By fall 1997, the partnership had satisfied all of the                 
          conditions of the March 1995 resolution and agreement with major            
          league baseball.  Accordingly, on November 6, 1997, final                   
          agreements were entered into between the partnership and major              
          league baseball.  Thereunder, a major league baseball membership            
          certificate was transferred to the partnership entitling the                
          partnership to field a major league baseball team and to play in            
          the American League at the beginning of the 1998 season.                    








Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  Next

Last modified: May 25, 2011