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Coors becomes a partial team owner.

Coors becomes a partial team owner

Denver Zephyrs, an International Baseball League team, owner John Dikeou and Coors Brewing Co. signed a letter of agreement last week making Coors part owner of a future major league baseball franchise in Denver.

The agreement provides for Coors to become a limited partner in the Zephyrs. In the event that Denver is awarded a major league baseball franchise, Coors would also become a limited partner in that venture. Dikeou is considered to be the leading candidate for obtaining a Denver franchise, analysts believe. The agreement is subject to negotiation of a final contract and approval by Coors Board of Directors.

"I welcome Coors' support and applaud their commitment to bringing major league baseball to Denver," Dikeou said. "Their involvement will certainly help convince the major league powers that Denver is the best choice for a new franchise."

One of the criteria for obtaining a major league franchise is the existence of a strong local ownership group. Coors is the first company to join in an ownership group being assembled by Dikeou.

"We are very excited to be involved with this effort," said Peter Coors, president, Coors Brewing Co.
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Title Annotation:signs letter of agreement with John Dikeou as part owner of future major league baseball franchise, Denver Zephyrs
Publication:Modern Brewery Age
Date:Jan 22, 1990
Words:195
Previous Article:Labatt ponders Bond's assets.
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