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NORTHERN VIRGINIA BASEBALL BID STILL HOT DESPITE STRIKE
Published September 15, 1994
"In an odd bit of kismet," a group of Northern VA investors yesterday announced a bid to bring a major league baseball team to VA just hours before Acting Commissioner Bud Selig canceled the baseball season. The group, Virginia Baseball Inc., claimed that the bid represents the "strongest area coalition yet" to bring a team to Northern VA (David Nakamura, WASHINGTON POST, 9/15). Though officials have made no formal announcement, MLB is believed to be adding two teams for the '97 season. The approximate cost for expansion is expected to be between $120- 170M, not including a stadium or operating costs (Basham & Alexander, FAIRFAX JOURNAL, 9/15). The coalition reportedly includes more than two dozen investors that have pledged more than $98M in equity capital, as well as securing $100M in debt financing to underwrite the bid (WASHINGTON POST, 9/15).