Baseball Guru
05-02-2002, 02:59 PM
By BRIAN BAKST
Associated Press Writer
May 2, 2002, 2:13 PM EDT
ST. PAUL, Minn. -- Donald Watkins insists he has enough money to buy the Minnesota Twins, who say he hasn't proved it in the six months since he started his bid.
Watkins, bidding to become baseball's first controlling minority owner, said the Twins never allowed him to examine their financial records and didn't respond to his offer.
"Any interested party with adequate resources to consummate a transaction has and will be given the opportunity to meet with the owners' designee to discuss a transaction," Twins president Jerry Bell said in a letter dated Wednesday that he sent to a pair of state legislators. "To date, no such parties have come forward."
Watkins has said since December that he wants to buy the Twins and build a stadium with private financing. Team owner Carl Pohlad put the team up for sale Feb. 20 after major league baseball failed in its effort to eliminate it before this season.
"If Mr. Watkins were to reliably demonstrate his ability to secure $150 million in funds that are fully committed and readily accessible for the acquisition of the Minnesota Twins, I can unequivocally assure you that he would have every opportunity to become the owner of the team," Bell said.
Watkins said he made financial disclosures to Bell in February, and that the Twins never sought more detail.
"I did not want to get involved in a political debate, but my credibility is important to me," Watkins responded in a letter to the legislators on Thursday. "I have worked long and hard to build a solid reputation as a respected businessman. I will not allow it to be stained by anyone seeking to hoodwink the Minnesota Legislature."
State Sen. Dean Johnson, co-leader of a conference committee considering legislation to finance a new ballpark, said efforts to enact a measure have been bogged down by speculation that the Twins unfairly snubbed Watkins, who also has considered making a bid for the Anaheim Angels. The committee is to resume work next week.
Under a confidentiality agreement, Watkins and the Twins limited their ability to publicly discuss Watkins' interest in the team, and he has not publicly specified his wealth. Bell said in his letter that if the Twins were free to disclose "financial and other information" they had from Watkins, it would "put to rest any lingering concerns that we did not deal with him in a responsible and reasonable manner."
Watkins, a lawyer and banker who wants to be baseball's first black majority owner, has said he could buy the Twins and build a privately financed stadium. In his letter, Watkins said he remains interested in the Twins, but has focused his time and resources on buying a different team, one he did not identify. He said his proposed purchase price for another team is "substantially greater than the one I offered the Twins."
Johnson said the Legislature shouldn't get involved in the negotiations over a sale of the Twins.
"If there is hoodwinking going on, that will be fleshed out," he said. "The cream will rise to the top."
Bell didn't immediately return a call from The Associated Press.
Associated Press Writer
May 2, 2002, 2:13 PM EDT
ST. PAUL, Minn. -- Donald Watkins insists he has enough money to buy the Minnesota Twins, who say he hasn't proved it in the six months since he started his bid.
Watkins, bidding to become baseball's first controlling minority owner, said the Twins never allowed him to examine their financial records and didn't respond to his offer.
"Any interested party with adequate resources to consummate a transaction has and will be given the opportunity to meet with the owners' designee to discuss a transaction," Twins president Jerry Bell said in a letter dated Wednesday that he sent to a pair of state legislators. "To date, no such parties have come forward."
Watkins has said since December that he wants to buy the Twins and build a stadium with private financing. Team owner Carl Pohlad put the team up for sale Feb. 20 after major league baseball failed in its effort to eliminate it before this season.
"If Mr. Watkins were to reliably demonstrate his ability to secure $150 million in funds that are fully committed and readily accessible for the acquisition of the Minnesota Twins, I can unequivocally assure you that he would have every opportunity to become the owner of the team," Bell said.
Watkins said he made financial disclosures to Bell in February, and that the Twins never sought more detail.
"I did not want to get involved in a political debate, but my credibility is important to me," Watkins responded in a letter to the legislators on Thursday. "I have worked long and hard to build a solid reputation as a respected businessman. I will not allow it to be stained by anyone seeking to hoodwink the Minnesota Legislature."
State Sen. Dean Johnson, co-leader of a conference committee considering legislation to finance a new ballpark, said efforts to enact a measure have been bogged down by speculation that the Twins unfairly snubbed Watkins, who also has considered making a bid for the Anaheim Angels. The committee is to resume work next week.
Under a confidentiality agreement, Watkins and the Twins limited their ability to publicly discuss Watkins' interest in the team, and he has not publicly specified his wealth. Bell said in his letter that if the Twins were free to disclose "financial and other information" they had from Watkins, it would "put to rest any lingering concerns that we did not deal with him in a responsible and reasonable manner."
Watkins, a lawyer and banker who wants to be baseball's first black majority owner, has said he could buy the Twins and build a privately financed stadium. In his letter, Watkins said he remains interested in the Twins, but has focused his time and resources on buying a different team, one he did not identify. He said his proposed purchase price for another team is "substantially greater than the one I offered the Twins."
Johnson said the Legislature shouldn't get involved in the negotiations over a sale of the Twins.
"If there is hoodwinking going on, that will be fleshed out," he said. "The cream will rise to the top."
Bell didn't immediately return a call from The Associated Press.