Schott's Ban Extended 3 Months

Baseball officials and Cincinnati Reds owner Marge Schott have mutually extended her ban from most team operations for three months while she seeks a buyer for her controlling interest.

Schott agreed in June 1996 to give up day-to-day operations of the team through the 1998 season and agreed last Oct. 23 both to sell her shares and extend the ban through Dec. 31. This latest agreement extends the ban through March and leaves John Allen as managing executive.

Schott has been asking for $78 million for 5½ of her 6½ shares in the team, which would put a value of $130 million on the franchise.

Because she is asking for such a high price, baseball officials don't believe she will find a buyer soon and anticipate the ban might be extended again, according to many baseball sources who spoke on the condition they not be identified.

Baseball officials are content not to force a sale as long as Schott remains out of sight and uninvolved in daily operations. Her partnership agreement expires on Dec. 21, 2000, and some of her partners are intent on ousting her then if she still is the general partner.

Schott, a Cincinnati auto dealer, has held a controlling share of the Reds since 1984. The Reds' limited partners in the ownership agreement have the right to match any outside offer for her shares.

On Feb. 3, 1993, Schott was suspended for one year and fined $25,000 for language the executive council judged "racially and ethnically offensive." The 1996 penalty stemmed for additional remarks she made that baseball officials deemed insensitive to minorities.

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