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View Full Version : Procter and Gamble CEO buys a Small Piece of the Reds



Unassisted
01-26-2006, 05:44 PM
http://news.enquirer.com/apps/pbcs.dll/article?AID=/20060126/BIZ01/301260014


Lafley buys slice of Reds
BY CLIFF PEALE | ENQUIRER STAFF WRITER
Among the new minority owners of the Cincinnati Reds this season will be one of the nationís best-known business leaders: A.G. Lafley.

The Procter & Gamble Co. chairman and chief executive is in for a ďmicro-shareĒ of one of the Redsí new ownership units in Cincinnati Reds LLC, he confirmed Thursday.

ďIím a baseball fan, and a long-time Cincinnati Reds fan,Ē Lafley wrote in an e-mail message.

Bobby Lawrence, a longtime friend and business partner of Castelliniís and a radio executive with links to the St. Louis Cardinals, also confirmed that he would be investing in the Reds. Lawrence is advising the new ownership group on media and marketing strategies.

Last year, Lawrence helped broker a deal for the Cardinals to buy a 50 percent stake in KTRS-AM in St. Louis and move broadcasting rights to that station. He was one of the early executives at WLW-AM.

Lafley and Lawrence will be a small part of the group led by new Reds CEO Bob Castellini. The group also includes Tom and Joe Williams. Castellini said last week that they are selling small units to investors around the region, and will announce the investors once they are approved by Major League Baseball.

The units are priced at $6.5 million each. Each unit is believed to represent about 4 percent of the team.

While minority owners donít have much say in the teamís personnel decisions, they do enjoy the prestige that comes with being a Reds owner. Any financial return would most likely come when the team is sold.

Because of the sales, itís still uncertain how much of the team Castellini will own personally.

BCubb2003
01-26-2006, 07:44 PM
I'm up for a nano-share; who's with me?

Maldonado
01-26-2006, 08:06 PM
"I'm up for a nano-share; who's with me?:"

I'm in too - wanna go halves on it? If so I'll talk to my accountant and have him dig up 2 million.

TeamBoone
01-26-2006, 08:32 PM
"Procter" with an "e". Sorry, it's my alma mater.

Unassisted
01-26-2006, 08:47 PM
"Procter" with an "e". Sorry, it's my alma mater.Fixed! It did cross my mind that it might be spelled that way, but I foolishly dismissed the idea. My guess now is that it came to mind because I had seen it spelled correctly in the second paragraph of the article. :doh:

George Foster
01-26-2006, 08:52 PM
They need to be a part owner. Procter & Gamble is part of the fabric of the city...good match. Toothpaste and detergent for EVERYONE!!!:thumbup:

TeamBoone
01-26-2006, 11:24 PM
Fixed! It did cross my mind that it might be spelled that way, but I foolishly dismissed the idea. My guess now is that it came to mind because I had seen it spelled correctly in the second paragraph of the article. :doh:

:) Thanks.

TeamBoone
01-26-2006, 11:25 PM
They need to be a part owner. Procter & Gamble is part of the fabric of the city...good match. Toothpaste and detergent for EVERYONE!!!:thumbup:

And maybe they'll start offering Millstone coffee at the GAB.

CincyReds2003
01-26-2006, 11:27 PM
They need to be a part owner. Procter & Gamble is part of the fabric of the city...good match. Toothpaste and detergent for EVERYONE!!!:thumbup:


As well as Bounce Softener Sheets.

KronoRed
01-27-2006, 02:05 AM
And maybe they'll start offering Millstone coffee at the GAB.
Another millstone fan :beerme:

BCubb2003
01-27-2006, 02:10 AM
Didn't Millstone sign with Texas?

Unassisted
01-27-2006, 01:56 PM
I'm wondering if the P&G CEO's share will be considered to be "Travel Size."

UKFlounder
01-27-2006, 04:01 PM
Hopefully the new ownership will help turn the "tide" of the team