Talks with Sturm not over yet | CraigDailyPress.com

Talks with Sturm not over yet

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Denver — Denver city officials have continued to talk to billionaire Donald Sturm about his stalled purchase of the Denver Nuggets and Colorado Avalanche despite their public disagreements. — Denver city officials have continued to talk to billionaire Donald Sturm about his stalled purchase of the Denver Nuggets and Colorado Avalanche despite their public disagreements.

— Denver city officials have continued to talk to billionaire Donald Sturm about his stalled purchase of the Denver Nuggets and Colorado Avalanche despite their public disagreements.

Several deadlines set by current team owners, Ascent Entertainment, have passed while Sturm has haggled over the city’s insistence that he pledge to keep the teams in Denver for at least 25 years.

Sturm agreed last summer to buy the teams and the Pepsi Center, which opened this fall, for $461 million, but the deal was soured recently by a dispute between Sturm and Denver.

Sturm missed a Monday deadline set by Ascent to resolve that dispute.

A day later, Sturm made another effort to revive the deal, withdrawing the price-cutting concession he had sought from Ascent and offering the city what his lawyers billed as a reasonable resolution to their disagreements.

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Negotiators for Sturm said the issue of keeping the teams in Denver for 25 years isn’t an obstacle because future buyers would be bound to the commitment.

The latest stumbling block, however, was Sturm’s demand that the National Basketball Association and National Hockey League, not city officials, be the final authority on prospective buyers.