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According to this article, Reggie Jackson and four investors were willing to pay $25 million more for the Oakland Atheltics than Lewis Wolff, who is slated to purchase the A's by the start of the season.
There are two reasons given why Jackson's group lost out.
Excerpt from: Jackson's group offered $25M more than accepted offer
"A's co-owner Steve Schott said that the bid came after he and partner Ken Hofmann already had an agreement to sell the team to Wolff, the team's vice president for venue development."
"Reggie told me he'd buy the team for $25 million more. But I don't go chasing the last dollar, Schott said. "I have an obligation to the contract."
I'm not alleging impropriety or anything, but the article gave me the impression that Schott wanted to sell the team to Wolff.
I also get a laugh out of the 'chasing the last dollar' quote. It's not like Jackson's group offered to match Wolff and pay for lunch. $25 million isn't exactly chump change. Still, a contract is a contract, and I find it honorable that Schott's not trying to torpedo this sale for the extra dough.
My guess is MLB is sending Reggie a 'complimentary' one-way ticket to Washington D.C.
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