The Pirates have given prospective buyer Kevin McClatchy
until Thursday to have his offer accepted by MLB owners. If he
doesn't get approval by then, "he may have to forfeit a $3
million sales deposit," according to Steve Halvonik in today's
PITTSBURGH POST-GAZETTE. McClatchy sent a letter to MLB on
Friday to "inform owners" that he had met their "final two
terms," including raising $69M in cash and restructuring "his
partnership to satisfy baseball rules." The $69M is $5M more
than McClatchy had earlier and about $3M more than MLB "suggested
he raise." He also plans to share operation of the team with two
partners, but MLB "prefers that he, as managing general partner,
be responsible for daily operations." McClatchy's attorney,
David DeNinno, said the "control issue" was being reviewed by
White Sox Chair Jerry Reinsdorf and that MLB will try to schedule
a vote of the league's owners. DeNinno acknowledged it may be
difficult to vote by Thursday. If a vote can't be scheduled by
then, "owners most likely will direct the Pirates present owners
to give McClatchy a one week sales extension" (PITTSBURGH POST-
GAZETTE, 1/30).
