Sunday, Jul 24, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Pro

Lindner selling control of Reds to local businessman

CINCINNATI Carl Lindner agreed today to sell controlling interest in the Cincinnati Reds to a group of area businessmen, keeping baseball s first professional franchise in local hands.

The group is headed by Robert Castellini, chairman of a Cincinnati-based produce company, and relatives of a family that owned the team from 1966-84.

The family sold control of the team to Marge Schott in the 1980s, setting up one of the team s most turbulent periods. The Reds won a World Series in 1990 but were tainted by her offensive remarks.

Under pressure from baseball, Schott sold her controlling shares in the team for $67 million to a group led by Lindner in 1999. The latest sale was set in motion last March, when three limited partners who owned 51.5 percent of the team s shares indicated they wanted to sell.

Lindner said at the time that he intended to retain control of the team, which hasn t had a winning season since it moved into Great American Ball Park in 2003.

Read more in later editions of The Blade and toledoblade.com.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…