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MANY TRIAD INVESTORS SAY THEY WILL BOW OUT OF BEAVER'S GROUP
Published May 22, 1998
In light of the defeat of the NC Triad's MLB referendum earlier this month, a dozen local investors "say they are withdrawing or are considering bowing out" from NC Major League Baseball LLC, the ownership group led by Don Beaver, according to John Nagy of the Greensboro NEWS & RECORD. Nagy: "That isn't expected to hurt the ownership group, which likely will open itself to Charlotte-area investors in the next several months." The "handful" of current major investors "say they remain behind Beaver," but many of the smaller investors "are reconsidering." Some, though, say "they're staying in -- for now, at least." When announced last year, NCMLB had more than 50 investors and pledges totaling $75M. The group was split into those holding Class A membership and having pledged at least $5M, and those holding Class B membership who had pooled investments totaling at least $1M (Greensboro NEWS & RECORD, 5/21). IN CHARLOTTE: Speaking out for the "first time" since an MLB feasibility study came out this week, NationsBank CEO Hugh McColl Jr. called in to a radio show Wednesday "to say that, contrary to some reports, he does believe Charlotte is ready" for an MLB franchise (CHARLOTTE OBSERVER, 5/22).