Reds Owner Marge Schott is "close to selling
controlling interest in the team" to a group led by Larry
Dolan for $65M, according to Tim Sullivan of the CINCINNATI
ENQUIRER. Sources say that Dolan's investment group "has
already executed a purchase agreement with" Schott. The
deal would pay Schott $65M for 5.5 of her 6.5 shares. She
"had been asking" for $78M for the 5.5 shares. She "has
sought to keep one of her shares, and to retain a public
role in the franchise." But according to one source close
to the talks, Schott "would be permitted to retain her
Cinergy Field office, her private box and her front-row
seats. But her role in the team's operations would be
strictly ceremonial." Sources also say that Larry Dolan's
brother, Charles, is "not involved" in the deal. Schott's
limited partners have "about a month to decide if they want
to match the offer and take control of the club" (CINCINNATI
ENQUIRER, 2/24). In a sidebar, John Erardi profiles Dolan
and notes that he has teamed with his brother in previous
bids for the Yankees, Redskins and Browns, but "none of
those deals ever got done" (CINCINNATI ENQUIRER, 2/24).
