Baseball Owners OK $67M Reds Sale
COOPERSTOWN, N.Y. (AP) _ Baseball approved the $67 million sale of the Cincinnati Reds by Marge Schott on Wednesday, ending the 15-year reign of one of the sport’s most controversial owners.
The owners also recommended no vote be taken this week on the pending deals involving the Kansas City Royals and Oakland Athletics as they ended their meetings one day early because of concerns about getting home with Hurricane Floyd heading north.
A sale of the Montreal Expos also is pending, but the team and the commissioner’s office agreed Friday not to put it to a vote this week.
Carl Lindner, who owns the Great American Insurance Co., will take over as the controlling owner from Schott, who repeatedly has infuriated baseball with inflammatory statements about minorities and women. The deal, in which 36.7 percent of the Reds’ shares would be sold, values the franchise at $181.8 million.
George Strike and William Reik, two of the Reds’ current limited partners, are helping fund Lindner’s bid.
Also Wednesday, NL president Len Coleman officially announced he will retire after the World Series because of baseball’s decision to move control of the umpires and disciplinary action from the league presidents to the commissioner’s office.
AL president Gene Budig was offered a job as a senior vice president in the commissioner’s office Wednesday.