Articles > Popular publications > PR Newswire press releases > October-December 1995 > Monday, November 6

Article: PITTSBURGH PIRATES ACQUISITION ANNOUNCES SUBMISSION OF FINANCING PACKAGE TO MAJOR LEAGUE BASEBALL

Article from:
PR Newswire
Article date:
November 6, 1995
Copyright

PITTSBURGH, Nov. 6 /PRNewswire/ -- Pittsburgh Pirates Acquisition Inc., through President and CEO Kevin McClatchy, announced today that it submitted to Major League Baseball a financing package including commitments for in excess of $40 million of new investments, commitments from five current owners to continue their investments in the Pirates, and lending commitments in the amount of $30 million.

According to Kevin McClatchy, "We have met the financing requirements set by Major League Baseball and the Pirates financial advisors. We are prepared to deliver our $3 million escrow deposit to the Pirates on Tuesday ...

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