-17--17-
the first quarter of 1990, the Raiders sought a more specific
proposal from Irwindale, but none was forthcoming.
Between 1987 and 1989, the Raiders were also engaged in
negotiations with other venues for possible stadium construction
and relocation. The lawsuits arising out of the Irwindale MOA
were settled in October 1992. The Raiders were not required to
repay the initial $10 million received from Irwindale.
Bad Debt Deduction
The Raiders, for some time prior to their move to Los
Angeles, had contracted with Bob Speck Productions (Speck) for
the television and radio broadcast rights to certain games.
Speck sold the commercial time during these broadcasts to various
advertisers. By a letter dated April 9, 1986, Speck was granted
the rights to produce Raiders' broadcasts for the 1986, 1987, and
1988 NFL seasons.
Speck entered into a contract with DCA Marketing and
Promotional Services, Inc. (DCA), on May 28, 1986, that
transferred certain of Speck’s rights to produce Raiders'
broadcasts for 1986. The Raiders were not a party to this
contract. Payments due under the Speck/DCA agreement were to be
made directly to the Raiders, however.
At the end of 1986, Speck still owed $200,000 on the
agreement for the 1985 broadcast rights. Of the amounts due for
the 1986 broadcasts, $750,000 was not paid. Final payments under
Page: Previous 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 NextLast modified: May 25, 2011