SBD/19/Leagues Governing Bodies

MLB OWNERS APPROVE LIMITED PUBLIC OWNERSHIP POLICY

          MLB owners yesterday voted to approve public ownership
     of franchises, according to Peter Schmuck of the Baltimore
     SUN.  The decision "could have a significant long-range
     impact on the economic health of the industry" and owners
     "apparently view it now as another way to bring new money
     into the sport."  MLB President & COO Paul Beeston: "It
     certainly is another option for financing.  When you've got
     a new option available, it's going to be beneficial."  Teams
     "will not be allowed to put the majority of their stock in
     the marketplace, and voting rights of public shares will be
     restricted" (Baltimore SUN, 9/19).  In N.Y., Murray Chass:
     "No rush to the stock market is expected. ... To go public,
     a team would have to issue a prospectus and annual reports
     with financial disclosure that clubs have always been
     reluctant to provide" (N.Y. TIMES, 9/19).
          NO BLUE JAYS VOTE: A vote on the sale of the Blue Jays
     was "pulled at the last minute from the agenda," according
     to Jim Byers of the TORONTO STAR.  One source close to the
     meetings: "It was a shock. ... [I]t was suddenly taken off." 
     Another source said Blue Jays-parent Interbrew SA "asked
     that the issue not be dealt with Wednesday."  Byers adds
     that it "isn't clear if the action was requested for
     housekeeping reasons or something more serious, such as
     problems with the proposed purchase" (TORONTO STAR, 9/19).

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