The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1928-06-26
100000
REPORTED
PRICE

NEW YORK, June 26.An-
nonncement will be made with
in d few days of the purchase
of the New York Giants base
ball club by the Madison Square
Garden Corporation, says the
Daily Mirror today.
The purchase price IL reported
to be somewhere in the neighbor-
hood of two million dollars. : The
deal was consummated last Friday
and the papers are now being
drawn up.
Negotiations for the purchase OF
the club have been in progress for
sanne time The Madison Square
Garden Corporation started out to
decker for the lease Of the Folio
Grounds, the plan being to convert
it into stadium in which outdoor
sports could be staged the year
round. Making these overtures,
fhe Garden stockholders learned
that the club could be purchased,
too.
John McCsraw will be retained
a. manager of the club and will
Be- elected president, temporarily
st least, under the reOrganiza-
5. fion that is planned. The rest
OF the Giants officials will 80,
however.
There Is q clause In the agree
ment entered into between the two
parties prohibiting the sale or
transfer of any more players by
the Giants to the Boston Braves,
the intimatiOn being that the own.
ers of the Giants are also interested
in the Braves and would seek to-
transfer the cream of the club to
Boston before the deal was com
pleted. The last interclub deal was
made only q. week ago, sending Vir.
gil Barnes and four other Giants
to Boston in exchange for Joe
Genewicll.
Charlie Stonenam, president and
principal stock1older of the Giants,
Is understood to have expressed a
desire to get out of New York
baseball about six months ago, after
the storm following the Hornsby
deal broke on his head. He and Tex
Rickard had been bitter enemies
since the Dempsey-Firpo bout at
the Polo Grounds, Richard claiming |
that the Giants had slipped a fast |
one over on him. financially. Frank |
Dwyer. mutual friend. brought |
them together a few months ago
and they have been talking turkey |
TO each other on the purchase of
the club ever since. Attorney Leo
Bundy acted officially for Mr.. Stone
ham and the Gardens staff of at
torneys handled Tex's end OF it.
1T is understood that the Garden |
Corporation is now dickering with |
the Yankee owners for the use of
the Stadium for home games. The
Polo Grounds will be converted into
stadium for all outdoor sports |
particularly boxing. This will neces-
state making q number of changes
in the layout of the field and the
seating arrangements. A removable
tarpau1in top for the field, to be
used in the event of rain, Is one
Of the improvements planned.
WOrkmen are already pFepar.
ing q suite OF offices for the
Giants i'm Madison Square Gar
den which will be OccOpIed as
soon IA the sale is officially
contaminated.
The Garden mana cement is glad |
to have such an able baseball man |
rs McCSrsw lined up with them, |
AZ they don't know a thing about |
the running of a ball club. McGraw |
will have a free hand and there |
will be none of the interference |
that has handica pped him in recent |
wears. The new owners make it |
clear that. McGraw Is set for life |
or as long as he wants to manage |
the club.
1t may now be revealed whether
or not Mr.. Stoneham is the prin'
cipal owner of the Boston Braves,
as has often been intimated because
of the unusual interest shown by
the Giants in strengthening the
Braves. That peculiar Hornsby deal
&c last winter may also be explained
now.
The land on which the Polo
Grounds is located In the property |
Of the Coogan estate and is under
n lons-term lease to the Giants.
There is also an option for renewal
for another long term, when the
present lease expires.
Dissengion has existed among the
Giants stockholders for some time.
Recently Judge Francis \. Nc
Quada was ousted as treasurer and
REPLACED by Leo j. Bondy, Stone
hams attorney.