Kevin McClatchy severed all ties to the Pirates after announcing Wednesday the sale of his shares and his resignation from the board of directors.
Thirteen years ago, McClatchy, then 33, was a little-known businessman from Sacramento, Calif., who pieced together an ownership group that kept the cash-strapped franchise in Pittsburgh. He also convinced Pittsburgh and Allegheny County officials to build him a new $262 million ballpark, PNC Park, financed largely by taxpayers.. McClatchy, who two years ago accepted the reduced role of limited partner, leaves without ever experiencing a winning season.
"This was a personal decision that I felt was best to make at this time," McClatchy said in a prepared statement.
"I care deeply in this organization, the city of Pittsburgh and the people of this region. While I will no longer play a role with the club, I will always passionately support the team in any way that I can."
McClatchy sold his remaining stake in the Pirates -- believed to be less than 10 percent -- to principal owner Bob Nutting. Limited partner Brown McClatchy Maloney, who is McClatchy's cousin, also sold his handful of shares to Nutting.
McClatchy, who could not be reached for comment, is an heir to the McClatchy Company. The family's business owns newspapers and other media holdings.
In December, the company, already saddled with $2.4 billion in debt, saw its share price tumble to $1.10 from a high of 75 in March 2005.
McClatchy and Brown McClatchy Maloney serve on the company's board of directors.
Neither McClatchy nor Nutting responded to phone calls from the Tribune-Review requesting comment.
McClatchy's departure enables Nutting to tighten his grip on the franchise. Nutting acquired a majority interest in the team in January 2007 by buying out some limited partners.
The board of directors now consists of Nutting; his brother, Bill Nutting, who is vice president of the Nutting-owned Ogden Newspapers; their father, Ogden Nutting; Duane Wittman, Ogden Newspapers' chief financial officer; and North Carolina businessman Don Beaver.
"There are no plans to seek additional investors at this time," team president Frank Coonelly said.
In November 2005, Dallas Mavericks owner Mark Cuban inquired about investing in the Pirates, but was told the team was not for sale. Cuban, a Mt. Lebanon native, is attempting to buy the Chicago Cubs.
In 1996, McClatchy organized a group which bought the Pirates for $90 million. During his tenure, the team's player payroll was consistently among the lowest in the majors.
In 1997, the Pirates went 79-83 and were second in the National League Central. In eight of the 11 seasons since, they have finished either last or next to last.
"Everything he did in his time here was done to try to make the Pirates a winner," Coonelly said. "While the team didn't perform on the field the way Kevin would've hoped, is it not hyperbole to say that Kevin saved the Pirates for Pittsburgh and built the best stadium in all of Major League Baseball. The entire city and region should be indebted to Kevin for that."
