Team partner Chet Soda acknowledged that part of the story that he had sold a portion of his share of the team to businessman Frederick Sullivan was true, but that he was waiting for approval of the deal from the other owners and that nothing had been finalized. Fellow owner Roger Lapham said that current owners had the right of first refusal on any sale of team stock. Sullivan claimed, however, that the deal had been done and presented a canceled check endorsed by Soda for $1,000 deposit on the purchase.

The total cost for half of Soda's share was set at $31,250, which would put the total value of the franchise at an even $500,000.