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Chicago Tribune, October 12, 1974

Makes offer for Sharks for 1975

MIAMI [UPI] -" Miami builder Matson O'Neal said Friday he is ready to take over the Jacksonville Sharks of the World Football League as soon as league officials come here to approve the deal.

O'Neal is a close friend of Charlie Tate, Sharks coach. He said he became interested in the Sharks when Tate invited him to Jacksonville last weekend to talk with people there.

On Thursday, the WFL announced that the Sharks and the Detroit Wheels had been folded due to financial difficulties and would not play the remaining five games on the schedule this year.

O'Neal said he hopes to get the Sharks' problems solved and give the team a fresh start in 1975.

He said he would acquire ownership primarily by taking care of back pay to players -" 10 weeks pay -" and paying off fringe debts. It is estimated that at least $1 million is need to bail out the Sharks.