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MCCLATCHY STILL FACES HURDLES IN BUYING PIRATES
Published January 4, 1996
While media heir Kevin McClatchy has received tentative approval from MLB's ownership committee and the Pirates board of directors to buy the team, NL President Len Coleman said yesterday the sale "is no slam dunk." Coleman told USA TODAY that "financial stability" is the key and that he hopes to move the sale forward, but he saw the Three Rivers Stadium lease with the city and an unpaid $6M loan are two key issues holding up the deal. MLB would like to see more stadium lease concessions from the city. In addition, the team is saddled with a $6M unpaid loan which originated with the Galbreath family, previous owners of the team. McClatchy said he is working on the loan, but "the real question is how much of it has to be paid back." Acting MLB Commissioner Bud Selig was unsure if the sale would be voted on at the next owners meetings (Hal Bodley, USA TODAY, 1/4).