| | DENVER -- The company that owns the Denver Nuggets and
Colorado Avalanche said Wednesday that it has ended attempts to sell the teams and their arena to Denver billionaire Donald Sturm.
The sale collapsed over Denver's requirements for a written
commitment that the two sports teams would stay at the Pepsi Center
in Denver for 25 years, no matter the ownership status.
"Ascent Entertainment Group Inc. announced that its agreement
to sell its sports-related businesses to entities controlled by
Donald L. Sturm terminated (Wednesday) at 7 p.m. ET," the company
said.
On Tuesday, Ascent set a 7 p.m. ET Wednesday deadline for Sturm to reach agreement with Denver on all issues regarding the sale. | |
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