Bulls Brass Parts Ways With Thibodeau Brewers Debut "Selig Experience" At Miller Park Royals' TV Ratings Lead MLB This Season Minneapolis MLS Team A Long-Term Investment Reds, P&G Adding Second Videoboard At GABP Senators' Murray Stepping Down After '15-16 Montreal Wants To Host MLB Regular-Season Games Franchise Notes Bears' McCaskey Second-Guessing Signing McDonald Pat O'Conner Named MiLB Enterprises President
Upcoming Conferences and Events
INVESTOR BAILS OUT, MCCLATCHY INSISTS LOSS WON'T SINK DEAL
Published February 5, 1996
Metals dealer William Snyder backed out of Kevin McClatchy's consortium to buy the Pirates Friday, but McClatchy said withdrawal of the $5M investment would not kill the deal. McClatchy's group had raised $M in equity, but now must raise another $5M before a February 15 deadline. McClatchy: "I don't think it's a crushing blow to raise $5 million in two weeks. We've been faced with bigger equity challenges than this." Snyder's demand to be involved in day-to-day operations was "unacceptable" to MLB, which requires McClatchy, as managing general partner, to be solely responsible for daily decision- making (Halvonik & Belko, PITTSBURGH POST-GAZETTE, 2/3).