Here is the press release accompanying a news conference held Tuesday morning.
Legislators Propose ‘Community Ownership' Bill to Save Twins
In one of the most creative efforts to save the Minnesota Twins, State Senator
Ellen Anderson (DFL-St. Paul) and State Representative Phyllis Kahn (DFL-Minneapolis)
today presented their "community ownership" legislation for the baseball team.
The bill, which will be introduced for the 2002 legislative session, does not
contain any tax dollars. Instead, it establishes two forms of shares in the team: 75%
would be public shares, available for as little as $100 or up to $1000 a share; and up
to 25% would be a managing owners. The bill would also require that the Governor and
the Metropolitan Sports Facilities Commission work with the team to transfer it to a
foundation or non-profit corporation.
"Community ownership is the best way to ensure that the Twins exist in
Minnesota," said Senator Anderson, who has introduced similar legislation in the past.
"The commitment between the team and its fans needs to go both ways, and community
ownership clearly establishes this relationship."
"This bill lets the market determine if the community and the region support
the Minnesota Twins," said Representative Kahn, an outspoken fan of baseball. "This
sets up a truly public/private partnership, and gives Minnesotans an opportunity to
work hand-in-hand with management in the best interest of the team."
With the Twins staying on top of the league for most of the 2001 season, it is
the hope of the legislators that the renewed interest in the team will transfer to
interest in owning the team.
"Not only would the public owners have a chance to make money, should the
value increase, but Carl Pohlad will also make money and retain control over the team,
if he remains a private owner," said Kahn.
Julian Loscalzo, a long-time supporter of community ownership and active in
the efforts to save the Metropolitan Stadium in the early 1980s, supports the
legislation. "Once the Twins have a viable future in Minnesota and a clear owner, then
we can begin to have the ballpark discussion," he said. " When you and I own the team,
we can best determine what the funding source should be for a new ballpark, because we
will be gaining from it."
"We've gone about this debate the wrong way," said Rep. Kahn. "The public's
money should go into the team, not the ballpark. Support for this plan is support for
the team."
"I'm looking forward to working with the team, current ownership, potential
investors*really anyone who loves the Twins and wants them to remain in Minnesota,"
said Sen. Anderson. "We're creating an exciting new model for the baseball team-fan
relationship, and it is very refreshing."
-30-Legislators Propose ‘Community Ownership' Bill to Save Twins
In one of the most creative efforts to save the Minnesota Twins, State Senator
Ellen Anderson (DFL-St. Paul) and State Representative Phyllis Kahn (DFL-Minneapolis)
today presented their "community ownership" legislation for the baseball team.
The bill, which will be introduced for the 2002 legislative session, does not
contain any tax dollars. Instead, it establishes two forms of shares in the team: 75%
would be public shares, available for as little as $100 or up to $1000 a share; and up
to 25% would be a managing owners. The bill would also require that the Governor and
the Metropolitan Sports Facilities Commission work with the team to transfer it to a
foundation or non-profit corporation.
"Community ownership is the best way to ensure that the Twins exist in
Minnesota," said Senator Anderson, who has introduced similar legislation in the past.
"The commitment between the team and its fans needs to go both ways, and community
ownership clearly establishes this relationship."
"This bill lets the market determine if the community and the region support
the Minnesota Twins," said Representative Kahn, an outspoken fan of baseball. "This
sets up a truly public/private partnership, and gives Minnesotans an opportunity to
work hand-in-hand with management in the best interest of the team."
With the Twins staying on top of the league for most of the 2001 season, it is
the hope of the legislators that the renewed interest in the team will transfer to
interest in owning the team.
"Not only would the public owners have a chance to make money, should the
value increase, but Carl Pohlad will also make money and retain control over the team,
if he remains a private owner," said Kahn.
Julian Loscalzo, a long-time supporter of community ownership and active in
the efforts to save the Metropolitan Stadium in the early 1980s, supports the
legislation. "Once the Twins have a viable future in Minnesota and a clear owner, then
we can begin to have the ballpark discussion," he said. " When you and I own the team,
we can best determine what the funding source should be for a new ballpark, because we
will be gaining from it."
"We've gone about this debate the wrong way," said Rep. Kahn. "The public's
money should go into the team, not the ballpark. Support for this plan is support for
the team."
"I'm looking forward to working with the team, current ownership, potential
investors*really anyone who loves the Twins and wants them to remain in Minnesota,"
said Sen. Anderson. "We're creating an exciting new model for the baseball team-fan
relationship, and it is very refreshing."
-30-
Phyllis Kahn State Rep 59B
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