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PIRATES MAY HAVE ANOTHER BIDDER
Published March 1, 1995
Kevin Vaughn, an investment advisor who "struck out" in an attempt to buy the team last fall, has reportedly talked with officials from Wertheim Schroeder, the New York investment bank which is handling the Pirates' sale. Vaughn, the CEO of Sterling Acquisitions, said he is "still working on assembling a group of investors." Adelphia Communications Chair John Rigas, who had offered $85.15M for the team, is "still weighing changes" to his offer to make it more acceptable to Pirates ownership. Vaughn is among "three known prospective buyers" to join the process since Rigas' bid came into question. Other suitors include Penguins owner Howard Baldwin and Capital Baseball Inc., a Northern VA group that is bidding for an expansion team (Steve Halvonik, PITTSBURGH POST GAZETTE, 3/1).