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A-B HAD CARDS ON MARKET WEEKS AGO
Published November 6, 1995
Anheuser-Busch Chair August Busch III and CFO Jerry Ritter "quietly" began contacting possible buyers and offering them the Cardinals several weeks before the company officially announced the team was for sale on October 25, according to the ST. LOUIS POST-DISPATCH. Robert Manor reports Busch's decision to sell the team was so "confidential" that even Cardinals President Mark Lamping didn't know about the deal (ST. LOUIS POST-DISPATCH, 11/6). NET WORTH: In another report, Manor writes it will be "difficult" for any potential buyer to figure out what the club is worth as a buyer will not only purchase the team, but also Busch Stadium, four adjacent parking garages and some other real estate that constitutes the brewery's Civic Center Redevelopment Corp. Manor notes A-B will "certainly demand" a confidentiality agreement from bidders with whom it shares this data and may even require potential buyers to put up cash deposits which would be forfeited if any information leaks out (ST. LOUIS POST-DISPATCH, 11/6). MAKES SENSE? Cardinals President Mark Lamping on buying the team without a labor agreement in place: "If you're a gambling person -- an if you're trying to buy a baseball team, that tends to be your nature anyway -- you may well want to buy it before there is an agreement. Then, you could get the upside of the agreement because there's no way it's going to get any worse for the owners" (Rich Hummel, ST. LOUIS POST-DISPATCH, 11/5).