The Indianapolis Star from Indianapolis, Indiana • Page 83

SUNDAY, DECEMBER 12, 1982 THE INDIANAPOLIS STAR- 5D Skalbania 01 verge of bankruptcy Skalbania made the announcement at a dinner for longtime friend Peter Pocklington, only a month after he responded to pressure from creditors with the vow: "I will never declare bankruptcy." IN A RECENT interview, Skalbania said overconfidence and the recession had cost him $30 million last year $12 million in sports ventures alone. His debts were estimated at $30 million by an accountant with the firm acting as trustee. Edmonton, Alberta (UPI) Nelson Skalbania, who epitomized the image of a successful financier dabbling in sports teams, fell from grace the same way he climbed to riches with stunning speed. The trim, 44 year-old real estate magnate and sports entrepreneur shocked his peers recently with the disclosure his financial empire was in ruins and he was on the verge of bankruptcy. Skalbania was born in Wilkie.

in 1938. He joined an engineering firm in 1964 after earning a civil engineering degree at the University of British Columbia and a masters in earthquake science from the California Institute of Technology. He began his real estate dealings through a firm which designed homes and apartments. By 1966, he had assembled a group of small investors who built and sold apartment buildings. (t m'l Oft 'J Ml'' JF Boxing Wranglers and New Westminster Bruins the Triple A baseball Vancouver Canadians and the Memphis Rogues of the North American Soccer League, who were also moved to Calgary and named the Boomers.

His most noted purchase came in April 1981 when he bought 90 percent of the CFL's Montreal Alouettes. Skalbania said he lost $1 million on the baseball team, $5 million on the Boomers before a court ruled this year he still owes the former owner $1.1 million, and $6 million on the Alouettes, which had its franchise revoked last May by the CFL Molson Western Breweries was also suing Skalbania for $500,000, claiming he broke a promotional agreement when the Boomers folded. He reportedly owes $3 million to the Canadian federal government and $1.25 million to the B.C government in back taxes. ALBERTA REPORT magazine said recently that Skalbania, his companies and his various business partners are subject to 31 lawsuits. The magazine listed 24 creditors with claims totalling nearly $9.5 million.

The larger suits involve $1,373,048 claimed by Western Capital for the mortgage on Skalbania's home, $1,633,150 by Kingswood Capital Corp. for a hotel mortgage, $1 million by John A. Skeans, Clifford Gordon Moore and Robert T. Crosby for mortgage default and $1.8 million by Central Financial Corp. for a mortgage default.

Skalbania became a master oT the roll over buying big and selling for quick profit Typical of his moves was the 1978 purchase of $100 million in property from Genstar Ltd. He sold it the same day for a profit of up to $4 million. The rising financier operated in Hollywood fashion in airport limousines, on paper napkins in restaurants. Until he began investing in pro sports in 1976, Skalbania was cruising along on a luxurious course. HE ONCE estimated he made 600 to 700 deals annually by the end of the '70s.

If he had to carry a property because he could not sell immediately, real estate prices were rising fast enough to cover any interest charges. Skalbania said soaring interest rates hit hard at the real estate market, however, and this hindered his system of "flipping" property selling a purchase before the down payment was due. When the real estate market became sluggish, Skalbania had to carry more property than he wanted and his cash flow slowed to a trickle. "In the old days, meaning two or three years ago, the more you bought, the more money you made," Pocklington said. "Even if you made a bad deal, inflation would take you out." His ventures into professional sport provided the final blow.

In May of 1980, after having bought and sold off interests in the Nelson Skalbania He's almost broke Edmonton Oilers and the Indianapolis Racers of the World Hockey Association, Skalbania went on a buying binge of sports teams. HE ACQUIRED the Atlanta Flames and brought them to Calgary for $16 million, selling them later at a profit. Within five months, he also bought control or interest in two junior hockey teams the Calgary tials in these championships are Tim Rabon (139) and Keith Vining (178). 1982 North American and National Golden Gloves champions. Also, Bryan Jones (106) and Craig Payne (su-perheavyweight) are entered.

Both won 1982 Sports Festival gold medals, Payne by default when Biggs broke his right hand for the second straight year. Besides Essett, five Indiana boxers will compete. They are Rudolfo Guzman of Craigville at 106; Victor Levine of Kokomo at 125; William Hurst of Lafayette at 132; Efren Brown of Anderson at 139, and Kim-muel Odom of Gary in the super-heavyweight division. There will be three rings of action during the preliminaries in the Convention Center today, Monday and Tuesday. Approximately 105 bouts are scheduled today.

Tickets for the preliminaries are $6 ringside, $5 reserved and $4 general admission. THE SEMIFINALS and finals are scheduled for Thursday and Friday nights in Market Square Arena. The 24 semifinalists from this tournament will be in a strong position to make the USA team which will compete in the Pan American Games next August at Caracas, Venezuela. Because of the blind draw held Saturday, many of the favorites may fight in the preliminaries, depending on the bracketing. Today's lint-round pairing! in tti U.S.

Amattur Boxing Championships at tht Indiana Convention Cantor: 1M POUNDS Jose Rosario, Patterson, N.J., vs. James Gruber, Pittsburgh, Arthur Johnson, St. Louis, vs. Troy Tomms, New Bedtord, Tim Stokes, Pine Bluff, vs. Mark Vigil, Ar-vada, Ty Merril, Portland, vs.

Paul Lucero, Miami, Rudolfo Guzman, Craigville, vs. Raymond Cruz, Wahiawa, Hawaii; Randy Gonzalez, Grant, vs. Eric Shields, Fort Hood, Texas. Ill POUNDS Anthony Sanchez, Scottsbluff, Neb. vs.

Joe Martinez, Mendota, Terry McNeil, Wilmington, N.C. vs. Todd Hickman, Ak- Continued From Page 1 it Then I got a cold and I just feel so weak right now." The field of approximately 300 of this country's best amateur fighters will begin trading punches this afternoon at 2. The U.S. is currently ranked second in the world behind Cuba and ahead of the Soviet Union and most of the top boxers are here.

FOUR MEDALISTS from the 1980 Olympic Trials will compete, including Robert Shannon who also won the 1980 amateur title as a light flyweight and will move up as a bantamweight here. North American and U.S. champions Michael Grogan (165) of Atlanta and Steve McCrory of Detroit (112) both finished third in the 1980 trials and will be trying to win their second straight U.S. titles. Joining Grogan and McCrory in defense of national titles are world silver medalist Pernell Whitaker (132), Orlando Johnson (125), Henry Hughes (139), Bennie Heard (178) and Dennis Milton (156).

Whitaker won in the Sports Festival and in November defeated Cuba's two-time Olympic champion, Angel Herrera. Milton won the light middle title in the Sports Festival and is seeking his second U.S. amateur title. Two-time North American champ Louis Howard, the No. 2 welterweight in the world in 1981, will be favored at 147 because of Breland's withdrawal.

Included in that weight class is Indianapolis' Ronnie Essett, who has an outside chance to defeat Howard. JESSE BENAVIDES will be trying to complete a "triple crown." Benavides, of Corpus Christi, Texas, is the Sports Festival and National Golden Gloves champion at 112. Others with impressive creden General's Dual Steel II III First Line SNOW TIRE CLEARANCE! 4-Ply WSW F.E.T. 1.51 1.98 1.92 1.92 1.98 2.59 2.78 2.47 $38.00 38.00 39.00 35.00 35.00 63.00 66.00 59.00 $31.50 "55 32.50 1.79 36.50 1.95 38.50 2.07 39.50 2.20 41.00 2.34 43.50 2.46, 15580R13 WSW 19570R13 WSW 18580R13 WSW 18580R13 WSW 19570R13 Blk. 21575R15 WSW 22575R15 WSW 20575R15 WSW A-78-13 B-78-13 E-78-14 F-78-14 G-78-14 G-78-15 H-78-15 ron, Ohio; Joey DeVoll, New Bedford, Mass.

vs. Anthony Tate. Washington, DC; Charles Richards, Rapid City. O. vs.

Mike Green, Plainfield, Joe Barrera, Plainview, Texas, vs. David Sanchez. Whittier, Craig Matsuda, Honolulu, Ha. vs. Steven McCrory, Detroit, Jerome Pillow, Columbia, Tenn.

vs. Michael Hatter, Fort Hood, Texas; Francesco Arreola, Bloomington, III. vs. Ferdinand Perez, New York, New York. lie POUNDS -Ron Freeman, St.

Louis vs. David Gauvin, Fall River, Bruce Embry, Albion, Mich. vs. Andre Adams. Washinton, Meldrick Taylor, Philadelphia vs.

Joseph Henson, Camp Ed Jeune, N.C; Reggie Crane, Bartlesville, Okla. vs. Rocky Young, Moundsville, W.Va.; Paul Banke, Azusa, Cal. vs. George Evans, Albany, Tyrone Stewart, Ft.

Lewis, Wash. vs. Joe Starr, Pekin, Patrcik Smith, Coon Rapids, Minn. vs. Israel Parker, Conway, Herbie Bivalacqua, Mar-rero, La.

vs. Renaldo Rucker, S. Navy. I2S POUNDS Joseph Dominic, Glenoale, vs. Joe Loving Rochester, N.Y.; Orlando John son, Chicago, vs.

Jesus Salud, Ninakult, Edgar Rodriguez, Hartford, vs. Harold Knight, Plain-field, N.J.; Vern Larvie, Rapid City, vs. Bernard Gray, Boynton Beach, Victor Levine. Kokomo, vs. Kenneth Friday, Conway, S.C.; Reggie Robinson, Houston, vs.

Anthony Hembrick, Detroit; Edward Parker, Tulia, Texas, vs. Lyndon Walker, Washington, Philip Brown, National City, vs. Rowdy Welch, Spokane, Gerald Lege, Ft. Hood, Texas, vs. Wendell Charleston, Demopolis, Eric Whitfield, Louisville, vs.

Irvin Rodriguez, New York, Lupe Miranda, Detroit Lakes, vs. Kendall Jett, U.S. Navy. 13 POUNDS Robert Byrd, Dallas. Texas, vs.

Dave Attardo, South Boston, Kenny Vice, Youngville, vs. Ricky Allison, Columbus, Ohio; Eldon Woodland, Washington DC, vs. William Hurst, Lafayette, Ernest Nava, Hawaiian Gardens. vs. Kent Hardee.

Winston-Salem, N.C; Joey Belinc. Marysville, vs. Matthew Jefferson, U.S. Marines; Rey Ordonio, Suisun City, vs. Erwin Carter, St.

Louis, Tyrone Rogers, Conway, vs. Clifford Gray, Boynton Beach, Mark Sisneros, Cheyenne, vs. Vincent Pazienza, Cranston, R.I. 13 POUNDS Greg Alpa, Honolulu, vs. Billy Bridges, Lincolnton, N.C; Tyrone Trice, Milwaukee, vs.

Clarence Darby, Fort Hood, Texas; Henry Hughes, Cleveland, vs. Dave Turner, Baltimore; Cedric Rose, Dallas, Texas, vs. Tim Rabon, Brous-sard. Lawrence La Coursiere, Hastings, vs. Efren Brown.

Anderson. Vincent Burgese, Philadelphia, vs. Frankie Randall, Morristown, Zachary Padilla, Azusa, vs. Roderick Moore, Detroit; Gerald Flack, Bremerton, vs. George Haynes, U.S.

Marines; Jeffrey Jeter, U.S. Navy, vs. Vincent Webb, St. Louis; Sam Brooks, Oklahoma City, vs. Loreto Garza, Sacramento, Scott Johnson, Bismarck, vs.

Tim Christensen, Central City, Neb. 147 POUNDS Antoine Perry, U.S. Navy, vs. Patrick Jones, Columbus, Oh; David Gutierrez, San Diego, vs. William James, Elizabeth, N.J.; Craig Willis, Wellston, vs.

Adam George, Lafayette, Tony Martinez, Fort Bragg, N.C, vs. Samuel Gribbs. Omaha, Neb; Owayne Jamison, Tacoma, vs. Pat Moss, East Moline, III; John Bonene, U.S. Marines, vs.

Eusebio Gonzalez, San Antonio, Tex; Mark Breland, Brooklyn. vs. Kurt White-sell, Rapid City, Vincent Releford, Fort Worth. vs. Ronnie Essett, Indianapolis; Kevin Johnson, Oklahoma Cityu, vs.

Louis Howard, University City, Mo. 15 POUNDS Kurt Hall, U.S. Navy, vs. Mark Kosevich, Bellwood, Ray McElroy, Long Beach, vs. Willie Monroe.

Rochester, N.Y.; Jeff Filler, Havre, vs. Andy LaCoursiere, Hastings, Frank Tate, Detroit, vs. Alfred Mayes, St. Louis, John Jackson, Seattle, vs. David Rabon.

Broussard, Capers D'Antignac U.S. Marines, vs. Bobby McCray, Conway, Dennis Milton, Bronx, vs. Frank Owens, Oklahoma City; Sam Huston, Fair Acres, N.M., vs. Darryl Robinson, Houston, Texas; Dwain Lockman, Arlington, Texas, vs.

Marty Foley, Rockland, Mass. 145 POUNDS George Cupp, Clinton, Md. vs. Richard Torrez, Tulare, Rico Ricardo, Chicago vs. Ricky Stevens, Shreveport, Michael Mar-lino, Reno, Nev.

vs. Larry King, Rochester, N.Y.; James Threadgill, Pine Bluff, Ark. vs. vs. Larry Richie, St.

Louis; Timothy Hembrick, Detroit vs. Virgil Hill, Williston, Alan Brown, Wahawa, Hi. vs. Stanley Smith, Omaha, Carlton West, Ft. Hood, Texas vs.

Nathan Houser, U.S. Navy; Dwight Hamilton, Houston, Texas vs. Ignacio Zavala, Corpus Christi, Texas; Billy Robertson, Ingle-wood, Ca. vs. Elton Singleton, Louisville, Tyrone Marshall, Aurora, Colo.

vs. Chris Christakos, Lowell, Mass. 173 POUNDS Karl Riffe, Hood River, vs. Orrace Macgee, Detroit; Billy Clay, San Antonio, Texas, vs. Jon Spangler, Vermillion, S.D.; Sherman Griffin, Minneapolis vs.

Clarence Dewberry, Law-ton, Kenneth Lloyd, U.S. Marines, vs. Arthur Jimmerson, University City, Larry Phelps, Ashland, Ky vs. Alex Coronado, Fresno, Edwin Cruz, New York City, vs. Keith Medina, Denver, Tommie Taylor, Phoenix, vs.

Duane Ware, Cleveland, Ohio; Toney Willingham, La Puente, vs. Randy Squires, Washington, DC. HEAVYWEIGHT Michael Smith, Memphis, vs. Jim Gouge, Lyons, Colo; Olian Alexander, Wichita, vs. Richard Johnston, Garland, Tex; Cranzie Simmons, Fort Lewis, vs.

Joe Gill, Yankton, Elmer Martin, U.S. Navy, vs. Herbert Cox, East Grandby, Conn; Jerry Jones, District Heights, vs. Avery Rawls, Los Angeles; Nathaniel Belcher, Marysville, vs. Poncho Carter, Augusta, Ga; Bill Soaki, Salt Lake City, Utah, vs.

Ricky Womack, Detroit. SUPER HEAVYWEIGHT Larry Cook, Ft. Bragg, N.C. vs. Alan Smith, Knoxville, Henry Tillman, Ontario, Cal.

vs. Howard Lake, San Antonio, Lionell Washington, Casper, Wy. vs. Fernando Rodriquez, Ft. Morgan.

Wayne Johnson, Presidio, Cal. vs. Darryl Rouse, Lawton, Okla; Al Evans, Chicago vs. Mike Tyson, Catskill, N.Y.; Warren Thompson, Baltimore vs. Pat Anderson, Glendale, Nathaniel Fithch, Wahiawa, Haw.

vs. Willie Ross, Atlanta; Mark Ludwinski, Bremerton, Wash. vs. Richard Larkin, Cincinnati. SUPER SAVINGS Size 14" 15" .00 Size P-15580R13 P-17580R13 P-18580R13 165-SR-13 00 13" Jet Rod.

WSW Jet Rad. WSW Jet Rad. WSW Sprint Steel Rad. $33.00 34.00 35.00 34.00 P-19575R15 Jet Rad. WSW S38 P20575R15 Jet Rad.

Blk. 40 P22575R15 Dual Steel III Blk. 50 HR-78-14 Michelin WSW 54 .00 .95 F.E.T. 1 44-2 78 3524 N. SHADELAND 546-7764 Mahaffey, Garner hold 3 -shot lead PRACTICAL mvi'At iv.

is! GIFT IDEAS ONLY 1 I WEEKEND LEFT I itii rt mi A a rst i SHOP MON. thru FRI. 9 to SAT. 9 to SUN. 10 to 4.

PRICES GOOD THRU SATURDAY, DEC. 18, 1982 WE RESERVE THE RIGHT TO LIMIT QUANTITIES. Another stroke back at 204 were the teams of Ed Fiori and Betsy King, who had an eight-under-par 64 Saturday, and Lou Graham and Vivian Brownlee, with a 67. MAHAFFEY AND Carner had three birdies to go with the eagle on the front nine and then added another four birdies on the back side en route to the lowest round of the tourney. "All day long I've left John high and dry and everytime I left him short, he went right at the green.

He attacked the ball," Carner said. Haas and Stacy took a double bogey on the eighth hole but then got back into the chase with four birdies on the back nine. Largo, Fla. (UPI) John Mahaffey and JoAnne Carner eagled the first hole Saturday and went on to card a nine-under-par 63 and surged to the third round lead of the $500,000 Mixed Team Classic with a 54-hole total of 18 under-par 198. Three shots back at 201 after a third round 68 were Jay Haas and Hollis Stacy.

Leonard Thompson and Carole Charbonnier, who shared the lead after the first two rounds, had a 69 Saturday and were tied with Jerry Pate and Jo Ann Washam at 14-under-par 202. Pate and Washam had a third round 68. 'Tied at 13-under-par 203 were Steve Melnyk and Beverley Klass, who had a 66, and Gary Koch and Bonnie Lauer, who had a 66. (rX-, 3k fireBOLT 4000 1 liOll 40 M0- WARRANTY JANTI-FREEZE BATTERY I GFSKt QfmAH Ji 1 DEPENDABLE PERFORMANCE 'f 0 40 01 AT A GOOD LOW PRICE UGy4ifgj S9099 FLUSH $049 tmf VkKyW WITH EXCHANGE riimimawilitlW JWMWff.iiMiMani-Mlllll(lr 1 nfCtll PRO-RATED SCHEDULE ATTERIES i Var VAX III CVEW Motorcraft, lH 1 I 48 MO. NATIONAL Wl 3.3S, SAVE $2Q 1 WARRANTY eiksKSGaOtsji? mm ALL SEASON RADIAL RADIAL WHITEWALLS 21575R14 4 for $159 15580R13 4 for $155 or $39 ea.

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