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DC BUSINESSMAN LIKELY TO ACQUIRE FRISCH'S REDS STAKE
Published August 7, 1998
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).