Tuesday, November 26, 2002

Tribune - Group may untether ties with PGE Park

The Portland Tribune is reporting today that it is "expected" that PFE's involvment with PGE Park will end this week. They are "expected" (again notice the quotes) to miss the Wed 5pm deadline to make a $576,000 payment to the city.

Does the city believe that PFE will come up with the payment? “I don’t know, but I can say, from a sort of behind-the-scenes rumbling, that it doesn’t look good,” said Sam Adams, chief of staff for Mayor Vera Katz.

There is a possibility that TIAA-CREF, PFE’s primary lender, will take over the Beavers and Timbers, but in the meantime the city has begun informal talks with potential stadium operators, including the Paul Allen-owned Oregon Arena Corp., the regional governing agency Metro and Mark Schuster, PFE’s current president, who could remain at the helm under the city’s auspices.

posted by the timberlog at 9:07 AM

Friday, November 22, 2002

PFE Update

Little to report as the deadline set for PFE to make past-due payments to the City of Portland approaches (Wed 27th Nov). Hopefully that falls into the "no news is good news" category.

A couple of quotes from interested parties however.

According to Sam Adams at the City of Portland:

"We are in the midst of figuring things out. Stay Tuned."

...and this from USL A-League Director of Operations Tim Holt.

"Based on our discussions with all of the relevant parties, we are confident that the Timbers will continue operations in 2003 regardless of the outcome however we strongly believe in Jim Taylor and PFE."

Oregonian - A Major League Letdown

The Oregonian's overview of PFE's history ahead of Wednesday's looming deadline.

posted by the timberlog at 8:53 AM

Wednesday, November 13, 2002

Dread Tackler

A recent article about the Timbers "dreadest tackler" Brent Sancho revealing that he played in CL Financial San Juan Jabloteh’s recent title game nursing an injured shoulder picked up 3 weeks before, after a clash with the keeper for fellow PFL team the Starworld Strikers. Brent played against doctors orders and only revealed his strapped injury after removing his shirt after Jabloteh clinched the title game.

Brent is currently training for upcoming T&T national games and there has been no official word about his contract status with the Timbers. However, expect Brent to be on his way for trials in Europe clutching his fresh international caps.

posted by the timberlog at 8:45 AM

Wednesday, November 06, 2002

More PFE Trouble Brewing

PFE On It's Way Out?

WW article detailing PFE's current woes:

- Pension fund TIAA-CREF has rejected PFE's restructuring proposal and is preparing to seize the Beavers and turn management of the team over to the Pacific Coast League. (no mention of the Timbers as per usual!)

- PFE has missed its past two quarterly payments, totaling nearly $600,000, to the city for its 20-year lease on the publicly owned PGE Park.

- Mayoral chief of staff Sam Adams previously confirmed that the city has talked to Paul Allen's Oregon Arena Corp. about taking over stadium operations.

and City will declare PFE in default

Oregonian article:

- The City have given 15 business days notice to make past-due payments or hand over its keys to the stadium.

- Adams and Pacific Coast League President Branch Rickey III said the Beavers will continue to play at PGE Park even if Portland Family Entertainment folds.

- The city's operating agreement requires teams to continue to play at PGE Park for 20 years in the event of a default. But if PFE goes into bankruptcy, a court could void the deal. Both the city and PFE officials said they will work to ensure that doesn't happen.

and more PFE Watch

Statesman Journal - Financial Woes Strike PGE Park
Oregonian - Beavers, Timbers Apparently Are Safe

posted by the timberlog at 1:19 PM

Tuesday, November 05, 2002

While trawling the Interweb some Timbers related stuff occasionally, miraculously appears. Here are some pics from a visiting PhD student, Mr Fraser Speirs all the way from Glasgow University's Department of Computing Science who managed to turn a conference trip to Denver into a fully fledged holiday (We've all done it! Well, it would be rude not to!). Here are his photos including some from the Timbers v El Paso game. Enjoy!

posted by the timberlog at 1:50 PM

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