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Looks like Billy Beane may have a lot more money to play with...
| quote: | PHOENIX -- Baseball's owners unanimously approved the sale of the Oakland Athletics to Los Angeles real estate developer Lewis Wolff on Wednesday, all but finalizing a deal in the works for about a year.
The owners spoke for 5 minutes via conference call to approve the sale, the next-to-last step necessary for Wolff and his group of investors to assume control of the team.
Now, the parties just have to hold the closing, sign the documents and complete the transaction.
The A's, who planned a news conference back in Oakland in the next couple of days to formally introduce Wolff as the new owner, hoped to have everything complete by Monday's season opener in Baltimore.
Wolff, the team's vice president for venue development, and his group are paying about $180 million to purchase the team from Steve Schott and Ken Hofmann, co-owners since jointly buying the A's in 1995.
"For the past three years, I've had the pleasure of being involved in one of the best-managed organizations in all of professional sports," Wolff said in a statement. "I consider it a great privilege to have my name associated with a franchise that has such a rich and proud history as the Oakland Athletics. I am excited about our future and working to continue the A's tradition of excellence both on and off the field."
Schott served as the managing partner and will remain involved with the club in some capacity, maintaining a minority ownership.
John Fisher, the billionaire son of Gap chairman and CEO Don Fisher, will be a majority investor -- a sign the small-market A's might not be one of baseball's low-budget teams for much longer. Wolff will be managing general partner.
John Fisher was part of the early ownership team that bought the San Francisco Giants in 1992, but recently sold his share to purchase the A's.
Wolff met with baseball's ownership committee in January and has repeatedly said his priority is to build a baseball-only stadium in Oakland, possibly in the Coliseum parking lot. The A's and NFL Oakland Raiders currently share the aging venue.
That could mean relying on some private money, since Oakland voters have shown in the past they don't want to pay for a new stadium with their tax dollars.
"Our goal is to do it in Oakland," Wolff said recently. "We're concerned that if we can't produce a venue, we don't want to continue playing in this shared facility longer than we have to."
Wolff was hired by the A's in 2003 to help find a new stadium. He is a former part owner of the NBA's Golden State Warriors and the NHL's St. Louis Blues, and a longtime friend of commissioner Bud Selig.
Earlier this month, the Oakland-Alameda County Coliseum Authority board voted unanimously to approve the transfer of the A's lease to the team's prospective new buyer.
"Steve and Ken have been excellent club owners and they deserve a great amount of credit for leading the A's to three division championships and four trips to the playoffs over the last 10 years," Selig said in a statement. "At the same time I am looking forward to Lew's tenure as a club owner and I fully expect that he will play an important role in the continued growth of our game."
Nobody around the team seems to know yet whether the new ownership will change day-to-day operations and player personnel. Billy Beane is expected to remain general manager.
"Everyone has been excited about the new group and is looking forward to the change," A's assistant general manager David Forst said Wednesday.
The players are excited for a fresh start.
"You want somebody who comes in and wants to win and loves the game," first baseman Scott Hatteberg said. "The rest will take care of itself. I'm sure there's talk of a new stadium. Hopefully, that would bring more revenue and increase payroll. I'd love to see more money spent, especially in the West with Seattle and Anaheim spending."
Reggie Jackson, who began his Hall of Fame career with the A's and won three World Series titles and an MVP with the team, wanted to buy the club and is frustrated his bid was not accepted even though his group was willing to pay $25 million more.
But Schott said he had already agreed to sell the franchise to Wolff before Jackson made his interest known.
Schott is the first Oakland owner to leave without winning a World Series. |
http://sports.espn.go.com/mlb/news/...d=2026320&num=0
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| quote: | | [11:58] Bas //: fuck he's hot |
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