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FROM THE BASEBALL CHRONOLOGY
»November 4, 1999:
Larry Dolan agrees to buy the Cleveland Indians from Richard Jacobs for $320 million. The sale is subject to approval by major league owners. If approved, the deal will be a record for a baseball franchise. The O'Malley family sold the Dodgers to the Fox division of Rupert Murdoch's News Corporation for $311 in 1998.
»January 19, 2000: Major league baseball owners vote to approve the $320 million sale of the Indians to Larry Dolan and his family trusts. They also vote to give Commissioner Bud Selig power "without limitation" to ensure "there is an appropriate level of long-term competitive balance among the clubs." He can override all of baseball's rules, and even attempt to impose a salary cap if he thinks it necessary to reach an agreement with the players following the 2001 season.