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Time - Man of the Year
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1993-04-08
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THE WEEK, Page 22SOCIETYStay by the Bay
Baseball's owners veto the San Francisco Giants' move to Florida
The winds of change -- and money -- seemed certain to lift the
San Francisco Giants baseball team out of their drafty,
weather-beaten stadium and carry them to a new air-conditioned
dome and a $115 million buyout offer in St. Petersburg, Florida.
Then the wind shifted. Baseball team owners voted 9 to 4 to keep
the Giants put, opting for a $100 million counteroffer and a
pledge for a new stadium. "It's a game of tradition," trumpeted
Chicago Cubs owner Stanton Cook in explaining the vote.
Tradition or no, the decision made for big winners and big
losers. Tops among the winners is Giants owner Bob Lurie, who
bought the club for $8 million in 1976 and will cash out
handsomely. Other winners are the team owners, who in keeping
baseball's geographic balance also keep their market monopolies.
The losers? St. Petersburgers, who have now been jilted for the
seventh time by baseball, and San Franciscans, who kept a team
but will probably get socked with a big bill for that new
ballpark.