Interbrew SA, the Belgian-based brewery, will remain as the
majority owner the Blue Jays "for at least another few months,"
according to the Toronto GLOBE & MAIL. Interbrew SA reportedly
told MLB it will apply for an extension to "continue as a short-
term owner of the club" beyond last Friday's deadline.
Interbrew's "request doesn't necessarily mean it wants to keep
the club permanently," but they are "just asking for more time to
ponder their asset, which they say lost C$11M in both 1994 and
1995." Acting Commissioner Bud Selig: "As long as Paul Beeston
is running the club, we're happy" (Danny Gallagher, GLOBE & MAIL,
1/27).
EXPOS' PROFIT MARGIN: Expos President Claude Brochu told
the CANADIAN PRESS the team is in "better financial shape than
many small market baseball teams." Brochu said the Expos earned
C$40,000 in '95 after losing C$15.9M in '94. He also said they
are not likely to "hold a fire sale of their high-priced stars"
ever again. The team also avoided "another life-threatening
situation" in beating the Quebec government in court. The
province had claimed the team owed C$8M in health-insurance
premiums. To "stay afloat last year, the Expos more than doubled
their debt" from $15M to $25M with Citibank. They now owe $26M
to Citibank on a line of credit that charged $3M in interest
payments last year (CP/MONTREAL GAZETTE, 1/28).
