Baseball owners unanimously approved the sale of baseball's oldest franchise, the Cincinnati Reds, on Thursday to a group headed by produce mogul Robert Castellini.
Carl Lindner, the 86-year-old Cincinnati financier who owned the franchise, had three potential buyers whose offers were roughly the same but chose Castellini largely because of his local ties. Lindner will remain a minority partner.
"Local ownership there was critical, and it was crucial to Carl Lindner," baseball commissioner Bud Selig said. "The one overriding goal we had was to have local ownership."
Owners Approve Sale Of Reds