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SBD/April 16, 2012/Franchises
Cardinals Receive '11 World Series Rings; Design Includes Rally Squirrel
Published April 16, 2012
LEAVING A LEGACY: In St. Louis, Joe Strauss wrote if Cardinals Chair Bill DeWitt Jr. "consistently conveys a long-term vision, it is not by accident." DeWitt insists that he and his group's "control of the franchise is open-ended." Rather than "seek to cash out on a franchise that has more than quadrupled in value since it was purchased, DeWitt frames the club as a long-term hold by him, his partners and their families." He said, "Obviously from my family's perspective we've talked about it. From our perspective, the next generation is very interested in continuing on past me. We have no interest in divesting." DeWitt intends for his children, Bill III and Donna DeWitt Lambert, to "remain among the investment group long after his stewardship ends." A number of other investors also "have long-standing ties to the franchise." DeWitt said, "It's not something I think about on a daily bases but you get to a certain age and there is estate planning to do. In our case, it will not involve selling our interest" in the club. He added, "If we were going to sell, we wouldn't have put all that money into a new facility. That was more for the future than for the present. It was a big commitment" (ST. LOUIS POST-DISPATCH, 4/15).