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DEVILS RAYS NEWS & NOTES: TEAM ADDS TWO INVESTORS
Published July 2, 1996
The Devil Rays named two investors to their ownership group: Gus Stavros, a "longtime Pinellas County businessman and philanthropist," has joined as a limited partner; and Mel Danker, a Fayetteville, NC, businessman, who is "reportedly related" to Outback Steakhouse exec and fellow Rays' investor Bob Basham. The team also "essentially" paid off their $130M MLB expansion fee by wiring a $25M payment to MLB teams and posting a $73M letter of credit for the balance (Marc Topkin, ST. PETERSBURG TIMES, 7/2)....The Durham Bulls and the Devil Rays signed a partnership "with the intent" of making the Bulls a Triple-A affiliate of Tampa Bay. Before the deal is finalized, the minor- league expansion committee must decide if Durham is suited to be a Triple-A city (TAMPA TRIBUNE, 6/29).