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Friday, April 5
 
Watkins now has offers to buy Angels, Twins

Associated Press

Donald Watkins has made an offer to buy the Anaheim Angels for close to $250 million, The Birmingham News reported today.

In an interview with the newspaper Thursday, Watkins would not comment on the negotiations, citing a confidentiality agreement.

On Feb. 16, Watkins offered to buy the Minnesota Twins for between $125 million and $150 million. That offer remains on the table, but team owner Carl Pohlad has opened the sale to other bidders and is seeking new local ownership, if possible.

Also, sale of the Twins is tangled in stadium financing and construction legislation in Minnesota. And there are widespread doubts in Minnesota about whether Watkins has the financial resources to buy the team.

The Birmingham News said a source had confirmed that Watkins' offer is in line with what former Florida Marlins managing partner John Henry made for the Angels a year ago. Henry eventually withdrew the offer to join the ownership group that purchased the Boston Red Sox.

Watkins met with Disney Co. and Angels executives last month in Los Angeles. At that time, he was provided with extensive financial records. The newspaper reported that its sources said Watkins' offer was close to $250 million, contingent on a review of the club's finances.

On his Web site, Watkins said, "It has been widely reported that I have made preliminary offers for two teams. Those reports are correct.

"I am narrowing my options and undertaking the requisite due-diligence with deliberate speed. However, that speed is likely to be governed by overall developments in Major League Baseball economics over which I have no control."

With the Angels, Watkins has set his sights on the nation's second-largest media market. The Disney Company renovated the original Anaheim Stadium in 1996 for an estimated $100 million, turning the 30-year-old venue into a baseball-only facility. It was renamed Edison Field after a 20-year sponsorship between the city of Anaheim and Edison International, a California-based energy firm, was reached. Edison Field currently seats 45,050 people.




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