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BREWERS TO POSSIBLE NEW INVESTORS: WE DON'T NEED YOU
Published February 29, 1996
Laurel Prieb, Brewers VP/Corporate Affairs, said yesterday the team does not need new investors and will be able to meet their financing commitment to a new stadium by the March 22 deadline, according to this morning's MILWAUKEE JOURNAL SENTINEL. Local sources said "several potential investors" are ready to bring new capital to the team to secure loans needed for the $90M financial commitment to a new facility. But new investors would reportedly "demand major changes in the team's management structure." Prieb: "We didn't need them last summer [when the stadium deal was signed] ... And we don't need them now. If anything, our finances have improved." Sources said Brewers President Bud Selig "would be especially resistant" to the idea of new investors if they "were contingent on his stepping down as President." Spokespersons for Sidney and Allen Kohl, brothers of U.S. Sen./Bucks Owner Herb Kohl, said there is "no truth to the reports they are considering investing in the Brewers." Also, a meeting between the team and Miller Brewing apparently has been set up to discuss stadium naming rights (Amy Rinard, MILWAUKEE JOURNAL SENTINEL, 2/29).