Even before a single game has been played, the UFL has stepped in and assumed control of the unnamed Norfolk franchise, which will begin play in 2011.
The news came in a somewhat cryptic release from the league on Friday. Basically, the UFL announced that Jim Speros is out, but that Jim Speros may still get back in.
In reality, Speros never was in, in the first place.
Speros explained that he and the UFL simply couldn’t reach an agreement. “What’s been put forward is just not acceptable for me to sign and move
forward with,” Speros told the Virginian-Pilot. “It’s no fault of the league or myself. It
happens in business all the time. We just did not come to terms.”
(And once again two entities learn the importance of not announcing a deal until the deal is, you know, done.)
Per the Virginian-Pilot, the two sides ultimately couldn’t agree on, possibly among other things, “fees for league-provided services that Speros wanted to handle locally,
as well as Speros’ percentage of the league should the UFL be sold.”
And so the UFL will continue to look for someone to own the Norfolk franchise. Until that happens, the UFL will continue to own it, with UFL employee Ed Reynolds running the franchise and Doug Williams continuing to serve as the team’s General Manager.