Business Notes BANKRUPTCY

Money may be the root of all evil, but the PTL ministry needs cash anyway. Last week, as the church faced possible liquidation of assets in bankruptcy proceedings, PTL was fielding offers for its 2,200-acre Heritage USA theme park in Fort Mill, S.C. Among half a dozen potential buyers of the park, appraised at $200 million by PTL last year, was George Shinn, 47, a multimillionaire who owns minor-league baseball and basketball teams. Shinn is thinking of building a baseball stadium at Heritage USA, parts of which have been closed since September, and moving his Charlotte Knights from North Carolina.

The PTL empire has been crumbling since Televangelist Jim Bakker left the pulpit in March 1987 after admitting to a one-night stand with Church Secretary Jessica Hahn. As donations dried up, PTL sank, at least $75 million in debt.