SBD/4/Franchises

WILL TRIBE IPO HAVE WALL STREET SINGING "CLEVELAND ROCKS"?

          Indians Owner Richard Jacobs "will be swinging for the
     fences today, hoping to raise more than" $60M through an
     IPO, as shares in his team begin trading this morning on the
     NASDAQ, according to Bill Lubinger of the Cleveland PLAIN
     DEALER.  Jacobs, who "will retain overwhelming financial and
     management control" after the stock offering, is looking to
     sell "up to" 4.6 million shares.  The stock, which was
     priced at $15 a share yesterday, will trade under the symbol
     "CLEV," and investors must buy at least 100 shares
     initially.  The IPO is being underwritten by McDonald & Co.
     Securities Inc., which is also serving as the lead brokerage
     (Cleveland PLAIN DEALER, 6/4).  Some financial analysts
     believe that the stock offering "will be sold out through
     brokerage house commitments before the NASDAQ market opens"
     (USA TODAY, 6/4).  In Akron, Mary Vanac reports that the
     offering "is expected" to raise between $53.8M-$62.2M for
     the team, and Indians VP/Public Relations Bob DiBiasio said
     that the organization "decided to keep its stock
     certificates under wraps until after" this morning's
     offering.  Many potential buyers have "indicated that they
     want certificates" for their shares, which signals that they
     "intend" to hold on to them (AKRON BEACON JOURNAL, 6/4).

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Cleveland Indians, Franchises

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