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OWNERS VOTE 28-0 TO APPROVE ROYALS OWNERSHIP PLAN
Published June 9, 1995
The "succession plan" designed by the late Ewing Kauffman to keep the Royals locally owned was passed by a 28-0 margin by MLB's owners yesterday. While the team currently has no owner, the succession plan was designed to give team CEO David Glass "the best chance to be that local owner," reports Jeffrey Flanagan in this morning's K.C. STAR. Under the plan, the Royals have six years to find a local owner or they must entertain offers from outside buyers, "who could potentially move the team to another city." Glass will use the time period "to wait for two developments": a labor agreement with revenue sharing; and a more financially fit Royals franchise. Flanagan writes, "In other words, when the financial climate improves, so do the Royals' chances of security with a local owner -- namely Glass." Glass: "Even Mr. K advised me (not to buy) unless there was an agreement in place" (K.C. STAR, 6/9).