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PIRATES ABOUT A MONTH AWAY FROM DECIDING ON STOCK OFFERING
Published February 2, 1998
The Pirates expect to decide within a month whether to go ahead with a public offering, according to Tom Barnes of the PITTSBURGH POST-GAZETTE. Pirates Owner Kevin McClatchy: "Right now, I think the timing is pretty good." The team is working with different investment firms to analyze potential interest in a stock offering. McClatchy said that the proposed stock would "fluctuate in value, increasing or decreasing if the total value of the team changed." McClatchy: "If the team ever was sold, (stockholders) would gain in the appreciation." Shareholders wouldn't have voting control of the team (PITTSBURGH POST-GAZETTE, 1/30).