Sale of Washington baseball team gets antitrust OK
Posted on: Tuesday, 30 May 2006, 10:25 CDT
WASHINGTON (Reuters) - U.S. antitrust authorities said on Tuesday they approved the sale of the Washington Nationals professional baseball franchise to a group led by real estate developer Theodore Lerner.
Officials completed their investigation of the deal without taking any action, the Federal Trade Commission said in a notice.
The Lerner group won the bidding on May 3 to buy the former Montreal Expos from Major League Baseball for $450 million.
The franchise was moved to Washington, D.C., before the 2005 season, following years of dwindling attendance and heavy losses in Montreal. Washington officials have approved a new publicly financed $611 million stadium, set to open in April 2008.
Source: REUTERS
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