MONTREAL, Feb. 1 (UPI) -- Baseball's ownership committee Friday approved the sale of the Florida Marlins to Montreal Expos owner Jeffrey Loria and the sale of the Expos to Major League Baseball itself.
The decisions also pave the way for Marlins owner John Henry to take over the Boston Red Sox.
The committee met Friday via conference call to endorse the sale of both financially troubled teams. The recommendations now must go to a vote by owners.
Owners are scheduled to meet near Chicago from Feb. 11-13.
Loria reportedly will pay $158 million to Henry to buy the Florida franchise. Henry leads a group that was approved by owners on Jan. 16 to purchase the Red Sox -- a deal contingent on the sale of the Marlins.
The group that will run the Expos will be a corporation or partnership of the remaining 29 owners, which will pay Loria $120 million.
According to the New York Times, MLB will loan Loria the other $38 million in order to facilitate the completion of both transactions.
Henry reportedly bought the Marlins for the same $158 million price tag in 1999.
Friday's sale does not necessarily save the Montreal franchise, which still could be a victim of contraction or a candidate for relocation. Washington has been mentioned as a new home.
MLB commissioner Bud Selig had said he wants to eliminate two teams before the start of next season -- a move that seems unlikely, but still possible.
