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Report: Magowan to Step Down from Giants Friday PDF Print E-mail
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MLB News
Written by Maury Brown   
Wednesday, 14 May 2008 04:26

Peter MagowanThe San Francisco Giants will be holding a special ownership meeting on Friday, at which time, managing partner Peter Magowan will reportedly step down from the leading position within the organization.

As reported yesterday, word of the longtime owner stepping away from the Giants has been swirling. As reported by the San Francisco Chronicle:

Rumors of a Magowan exit after 15-plus years at the helm have been circulating for days. Although there has been no word from Magowan or team officials, this week an e-mail went out from the front office to the Giants' 30 investors, asking them to attend a 10:30 a.m. meeting Friday at AT&T Park to discuss "some investments the Giants are contemplating."

Sources tell us the real topic is the 66-year-old Magowan's planned retirement, which could lead to his ownership shares - estimated to be worth well over $70 million - being offered to fellow partners. The team overall is valued in excess of $500 million.

Who could replace Magowan at the helm? Rumors are former Microsoft general counsel William Neukom, and principal partner and business investor John Scully.

 
 
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