SBD/18/Franchises

MLB OWNERS EXPECTED TO APPROVE ANGELS SALE TODAY

     MLB owners are expected to approve the Walt Disney Co.'s
proposed 25% purchase of the Angels today, but completion of the
deal hinges on unresolved stadium lease issues, according to the
ORANGE COUNTY REGISTER.  Disney's agreement to buy a share of the
team includes a provision that allows the company to cancel the
deal if lease issues are not resolved with the city of Anaheim
within 60 days.  Called the "second-worst in baseball" by Owner
Jackie Autry, the Angels' lease runs through 2001, and Anaheim
City Manager Jim Ruth said he hopes to have the matter resolved
"in less than 60 days; that's the outside time limit."  The
Angels and Anaheim had talked about building a new stadium, but
Disney officials think the most economic approach is to remodel
the existing stadium.  Ruth: "We have to mutually find a way it
can be financed so it won't be a burden to the team or taxpayers"
(Miller & Fisher, ORANGE COUNTY REGISTER, 1/18).  Ken Daley
writes that Disney's decision to sell its L.A. TV station, KCAL,
removed the final stumbling block in its bid to take over the
team (DALLAS MORNING NEWS, 1/18).
Return to top
Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug