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WHAT A DIFFERENCE A DAY MAKES AS PIRATES WILL SELL TO RIGAS
Published April 27, 1995
Pirates ownership made a "startling about face" yesterday and will try to sell the Pirates to Adelphia Communications Chair John Rigas by early May. Reports as late as yesterday had team ownership contemplating taking the team off the market after Rigas refused to increase his $85.15M bid for the team. But yesterday Pittsburgh Mayor Tom Murphy "changed the owners' mind" by promising an additional $7-8M in city-backed funding. Team owners also found out at their quarterly meeting yesterday that the team "is nearly out of money and another loan backed personally by the owners was needed" to keep the team in business. Pirates Chair Vincent Sarni: "We're very optimistic for an agreement within a week to 10 days" (WASHINGTON POST, 4/27).