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FRANCHISE VALUES IN BASEBALL DOWN 20% BECAUSE OF STRIKE?
Published October 3, 1994
In this week's BUSINESS WEEK, Keith Alexander reports that the baseball strike "is hitting especially hard at a handful of teams: those up for sale." Four are officially on the block: A's, Angels, Padres and Pirates. The Twins are also reportedly "entertaining offers." According to Paul Much, an analyst with Houlihan Lokey, Howard & Zukin, the strike has "lopped off around 20% of a team's value." So the teams for sale "indicated they likely will wait until the work stoppage is over. The exception is the Pirates, who are under pressure to sell soon." The team faces a January 29, 1995 deadline to find a buyer who will keep the team in Pittsburgh (BUSINESS WEEK, 10/10 issue).