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FFF to allow Hikone auction

Originally published August 9, 2009

DUNDEE (Y!SN) -- Y!SN has learned that the Fantasy Football Fever (FFF) league will drop their objections to a possible sale of the Hikone High Rollers. The rights to the franchise are slated to be auctioned off next weekend as part of a liquidation involving the Hikone Gambling Authority (HGA), which filed for Chapter 7 bankruptcy earlier this year.

The league reportedly will retain the right to approve the eventual buyer as part of the agreement reached with the liquidation firm Standard Equity Enhancement Yields of America (SEEYA). League officials had argued that ownership of the franchise reverted to the league when Hikone filed for bankruptcy. It remains unclear whether the FFF will seek to collect any outstanding obligations from a new owner, or impose any conditions before allowing the new owner to field a team this season.

A formal announcement regarding the agreement is expected later today.

The HGA purchased the former Deezies fa Sheezies in November 2008 from Deezies Sports Limited (DSL). The troubled franchise had been in a downward spiral since the sudden disappearance of longtime head coach C-Deezy fa Sheezy following a 2007 playoff loss, but had briefly rebounded under the new ownership. However, the indictment and subsequent conviction of HGA owner LaRon "Bookie" Williams on federal racketeering charges led to a sharp decline in revenue that culminated in the bankruptcy filing last May.

08-19-2009