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Owners approve change at top for Giants

Baseball Betting Lines

08/14/2008 - Washington, DC (Sportsbook Betting Lines) - Major League Baseball owners unanimously voted on Thursday to approve Bill Neukom as the new majority owner for the San Francisco Giants.

Giants managing general partner Peter Magowan announced his plan to retire prior to this season.

Magowan, who has been a member of the organization since the early 1990's, plans to step aside effective October 1. Following his retirement, Magowan will remain a partner in the franchise.

The 66-year-old organized a purchase of the club in 1992, after then-owner Bob Lurie had a deal in place to sell the team to a group in the Tampa-St. Petersburg area.

His first major move was to sign slugger Barry Bonds to a then-record six- year, $43.75 million contract. Under his watch, the franchise made the postseason on four occasions. The Giants won the NL West in 1997, 2000 and 2003, and made a World Series appearance in 2002, ultimately losing to the Angels. San Francisco also recorded a pair of 100-win years: 1993 (103) and 2003 (100).

However, Magowan has come under fire for some moves, such as approving the seven-year, $126 million deal given to Barry Zito prior to the 2007 season.

Neukom, also 66, has been a member of the ownership group along with Magowan since 1995. He is the outgoing president of the American Bar Association.


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