Read the entire article here on the Oregonian website.

Sale of Beavers heads for a mid-June close

By JOHN HUNT
The Oregonian
Saturday, May 29, 2004

The sale of the Portland Beavers is in the "exchange of documents" phase, and the latest estimate for the closure of the deal is mid-June, officials said.

Portland Beavers acting president Tom Lasley, after a conference call with Portland Family Entertainment, said the deal is proceeding smoothly. He said the Pacific Coast League should complete a deal with the new owners shortly after the sale of the Tri-City Dust Devils closes around the second week of June.

"That is the hope, to close the deal sometime before the (Dust Devils') opener," Portland Family Entertainment president Mark Schuster said.

The Class A Dust Devils, who begin their Northwest League Class A short-season schedule June 18, are being sold to a group led by George and Bobby Brett. The Hall of Famer and his brother are not, however, part of the group involved in the Beavers' sale.

"They have insisted on only one thing," Lasley said of the new group. "Clean up the mess."

That mess includes settlements with PFE and with TIAA-CREF, its main creditor. All agreements are in place, Lasley said.