NBDL team for Portland
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Associated Press - Published: April 9, 2008
PORTLAND, Maine — The Portland City Council has agreed to lease the Portland Expo to a group of investors that wants to bring an NBA Development League team to Maine's largest city.
Under terms of the five-year lease, the team will pay $250,000 for building improvements and be responsible for all team-related operating costs. There's an option for another five years, as well.
The investors have said they hope to become an affiliate of the Boston Celtics, and their team colors, like the Celtics, will be green and white. The investors include Bill Ryan, owner of Oxford Plains Speedway, and his father, Bill Ryan, board chairman of TD Banknorth.
Jon Jennings, who would be the team's co-owner, president and general manager, says the team will invite the community to participate in a naming contest.
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