SBD/1/Franchises

PIRATES MAY HAVE ANOTHER BIDDER

     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).
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