SBD/Issue 163/Franchises

Magowan Reportedly Set To Surrender Control Of MLB Giants

Magowan Could Announce His Resignation As
Giants Managing General Partner On Friday
The MLB Giants have called a meeting of the team's ownership for Friday, and "word is that longtime [Managing General Partner] Peter Magowan will announce he's stepping down," according to Matier & Ross of the S.F. CHRONICLE. The Giants' front office this week sent an e-mail to the team's 30 investors, asking them to attend a 10:30am PT meeting Friday at AT&T Park to discuss "some investments the Giants are contemplating." Sources said that the "real topic is ... Magowan's planned retirement, which could lead to his ownership shares -- estimated to be worth well over $70[M] -- being offered to fellow partners." The Giants are valued "in excess of $500[M]." There was "no immediate word on who might succeed Magowan, but the job is expected to go to someone already connected to the ownership group." The "names mentioned most frequently" are Giants General Partner William Neukom and Principal Partner John Scully. Matier & Ross note whoever takes the job is "likely to play a more limited role than Magowan," who has run the team since '93. Some partners "privately complained that Magowan's managing style was autocratic," and Matier & Ross write it "left him open to criticism and second-guessing from both inside and outside the organization" (S.F. CHRONICLE, 5/14).

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