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Mariners' Owner Rejects $37-Million Bid

May 13, 1987

George Argyros, owner of the Seattle Mariners, has rejected a $37-million offer to buy the baseball club, according to Bruce Engel, a Portland, Ore., attorney and lumber company owner who says he made the offer.

Engel said he had proposed to purchase a majority interest in the American League team, provided there was significant minority participation from the Seattle business community. Chuck Packard, an Argyros spokesman, would not say why the offer was rejected.

Engel also said that if his offer had been accepted, he was prepared to negotiate modifications in the team's Kingdome lease, including a five-year waiver of an attendance clause. Under that clause, the team may leave Seattle if it fails to draw 1.8 million fans this season.

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