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EVALUATING BASEBALL TEAMS FOR SALE: ADD THE ANGELS
Published September 15, 1994
ANGELS: After Jackie Autry signed the owners' resolution cancelling the season, she announced that she and her husband Gene Autry, have decided to sell the Angels. She added, however, that they will not sell the club until there have been a resolution of baseball's labor dispute. The Autrys have told four prospective buyers that they are asking $130M, although only 23% of the club will be sold while Gene Autry remains alive. Terms of the sale "stipulate an immediate" $30M fee for 23% of the club; the minority owner will be required to pay Autry $3M each year to maintain the option to purchase the rest of the club within six months of Autry's death. Jackie Autry would not identify the four buyers, but it is believed she has had preliminary talks with Walt Disney Corp. and billionaire Marvin Davis (Bob Nightengale, L.A. TIMES, 9/15). ATHLETICS: The A's are still for sale and "it is difficult to determine" what effect the early end of the season will have on the sale. Alameda County Supervisor Don Perata said interest in buying the team is "sure to wane." But Oakland Coliseum president George Vukasin "did not agree with Perata." The Haas family put the team up for sale May 1994 with a price tag of $95M and gave the city of Oakland seven months to find an ownership group that would keep the team in Oakland. The deadline is December 7 and the city is considering four buyers (Robert Kuwada, SAN JOSE MERCURY NEWS, 9/15). "The slim silver lining for A's fans is that -- unless the people of St. Petersburg are so desperate they're willing to buy a baseball team that isn't playing baseball -- the Haas family probably will start next season is Oakland" (Ann Killion, SAN JOSE MERCURY NEWS, 9/15).