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MLB TO ALLOW OWNERS TO HOLD LIMITED SHARES IN TWO TEAMS
Published September 18, 1998
At the MLB meetings in Milwaukee, owners "approved a rule change allowing one person to own shares" in more than one MLB team, according to the AP. MLB Commissioner Bud Selig: "Under a stringent sort of circumstances, a person can own less than five percent interest in two teams." Selig said that no owner is currently in that category and that move was "nothing very significant." Also at the meetings, owners approved the transfer of operating control of the Brewers from Selig to his daughter, Wendy Selig- Prieb. Selig's stock in the team will be placed in a trust. In other news, MLB COO Paul Beeston reported on how MLB "can increase its international presence, but no decisions were made." Selig also discussed revenue sharing (AP, 9/18). In Milwaukee, Michael Bauman examines the revenue disparity in MLB, and writes that despite the "dramatic" home run chase, the game "is still sick" (MILWAUKEE JOURNAL SENTINEL, 9/18). ALLEN TOWN: An MLB exec told Geoff Hobson of the CINCINNATI ENQUIRER that despite the future of the Reds' ownership being "in limbo," the team's Managing Exec John Allen has "done a tremendous job and you can count on it, he'll have a job in baseball" (CINC. ENQUIRER, 9/18).