Monday, November 08, 2004

New York Developer Aims to Buy Baseball's Expos

Staff Reporter of the Sun
November 8, 2004

New York developer Mark Broxmeyer, best known for erecting sprawling multifamily developments in Long Island, is trying to buy the Montreal Expos.

The team has been tentatively renamed the Nationals and could play in Washington, D.C., next season. Major League Baseball's 29 owners bought it in February 2002 for $120 million. And having reportedly lost millions on the purchase, the league is anxious to unload the Nationals by January.

"The last time I checked, the Yankees and the Mets weren't up for sale, so Washington, D.C., is about the closest thing you can get to a New York franchise," said Mr. Broxmeyer, a native New Yorker and chairman of the think tank the Jewish Institute for National Security Affairs.

Mr. Broxmeyer has so far convinced Fox News's Bill O'Reilly's lawyer, Ben Morelli, and the chairman of the U.S. Holocaust Memorial Council, Fred Zeidman, to join his investors. Steve Forbes has also said he "wants to participate," and Mayor Giuliani is "definitely interested," said Mr. Broxmeyer.

Within the next month, Mr. Broxmeyer expects Major League Baseball to publish an acceptable minimum bid for the Expos purchase, which rumors have put at $300 million. After the minimum has been set, the potential buyers have 30 days to examine the Expos' books before putting in their official bid.

Investor groups do not have to be finalized until the official bids are made. Mr. Broxmeyer is still hammering out his final list of investors and continues to meet with wealthy individuals in the hopes of raising more funds, including a meeting today in Washington with an unnamed vice presidential candidate who has expressed interest in investing in the team.

Read the entire article here on the New York Sun website.