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 CINCINNATI (AP) - Carl Lindner agreed Wednesday to sell his controlling interest in the Cincinnati Reds to a group of area businessmen, keeping baseball's first professional franchise in local hands.
The group is headed by Robert Castellini, chairman of a Cincinnati-based produce company, and relatives of a family that owned the team when it became the Big Red Machine in the 1970s. The sale must be approved by Major League Baseball.
Most sales take between three months and a year to get approval from baseball owners, the timeframe usually depending upon the number of parties involved.
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