CHIEF WAHOO LANDS ON WALL STREET: TRIBE TO FLOAT IPO?
In a "historic move that could trigger a significant
financial realignment" of MLB, the Indians "are expected to
announce plans to make the ballclub a publicly traded
company," according to Jones & Rogers of the CHICAGO
TRIBUNE. MLB owners last summer "approved the Indians'
proposal" to issue two classes of stock, with Indians Owner
Richard Jacobs maintaining control of voting interests. An
announcement could come "within the next week or so." Jones
& Rogers write that "the move may be a partial response to
the increasing big corporate influence in baseball. ... This
would be a remarkable departure in the operation of
professional baseball, a very public game governed by the
very private dealings of a select group." Rogers & Jones
add that the Indians would be the "first free-standing team"
in MLB to go public (CHICAGO TRIBUNE, 3/27).