SBD/7/Franchises

DC BUSINESSMAN LIKELY TO ACQUIRE FRISCH'S REDS STAKE

          DC-based entrepreneur Jonathan Ledecky has signed a
     letter of intent to buy one-fifteenth of the Reds from
     Frisch's Restaurants Inc. for $7M, according to Erardi &
     Biank Fasig of the CINCINNATI ENQUIRER.  Frisch's paid $1.6M
     for the stake 15 years ago.  Frisch's Chair Jack Maier said
     that Ledecky is worth an estimated $200M.  Ledecky could not
     be reached for comment.  Jerry Ruyan, a Dir of Frisch's,
     said that Ledecky has been involved in a couple of groups
     that unsuccessfully have tried to acquire MLB teams, but he
     said, "I don't think this is a prelude to him taking over
     (the Reds)" (CINCINNATI ENQUIRER, 8/7).  Under the Reds'
     partnership agreement that runs through '99, "any Reds
     partner," including General Partner Marge Schott, "can
     match" Ledecky's offer and buy Frisch's share.  The deal
     also must be approved by the NL (CINCINNATI POST, 8/7). 

Return to top

Related Topics:

Cincinnati Reds, Franchises, MLB

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug