SBD/2/Franchises

PIRATES ABOUT A MONTH AWAY FROM DECIDING ON STOCK OFFERING

          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).
          
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