Disney Hires Bank for Attempted Sale

ARLINGTON, Texas —  In the most significant expression of its determination to sell its two money-losing sports teams, the Walt Disney Co. has retained a New York investment bank to find buyers for the Angels and Mighty Ducks, according to two sources familiar with the sales process.

Even while engaging in on-again, off-again talks to sell the teams over the past three years, Disney declined to hire an investment bank, hoping that qualified buyers would come forward after reading or hearing that the teams were on the market. The decision to retain Lehman Brothers reflects in part an admission that Disney has been unable to attract buyers it deems qualified and in part a corporate urgency to sell non-essential assets at a time Disney stock has plunged to eight-year lows.

Lehman is expected to market the teams aggressively, separately and together, soliciting potential investors and determining their financial qualifications. Disney has pledged that, as a condition of any sale, a buyer must agree to keep the team or teams in Anaheim.

Paul Pressler, the Disney executive who oversees the Angels and Ducks, could not be reached for comment Wednesday. Sal Galatioto, the head of Lehman’s sports finance group, declined to comment.

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While baseball writers vote for the major postseason awards, including most valuable player and Cy Young, major league players vote for the “Players’ Choice Awards,” under the auspices of their union. The winners will be announced next month, but three finalists in each category were announced Wednesday.

The finalists for outstanding player in the American League did not include the Angels’ Garret Anderson but did include Alex Rodriguez of the Texas Rangers, Alfonso Soriano of the New York Yankees and Miguel Tejada of the Oakland Athletics. Tim Salmon was a finalist for comeback player of the year, along with Ruben Sierra of the Seattle Mariners and David Wells of the Yankees.

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While the Angels respect Aaron Sele’s work in rehabilitating his partially torn rotator cuff over the past five weeks, they do not plan to use him during this final week of the season or during the first round of the playoffs. He will continue his work, however, so that the Angels can consider him for a possible start should they advance to the league championship series.

Sele said he would be “disappointed” if he did not get to pitch again this season.

“Disappointed isn’t a negative thing,” he said. “You have to look at the big picture.”

TODAY

ANGELS’

JOHN LACKEY

(8-4, 3.57 ERA)

vs.

RANGERS’

COLBY LEWIS

(1-2, 6.00 ERA)

The Ballpark in Arlington, noon PDT

TV--Fox Sports Net.

Radio--KLAC (570), XPRS (1090).

Update--With the Angels still mathematically alive in the race for the division title, Manager Mike Scioscia opted to start Lackey today. Jarrod Washburn starts Friday, but his outing could be shortened, because he is scheduled to pitch the first game of the playoffs on three days’ rest. Kevin Appier, slated for the second game of the playoffs, starts Saturday. The Angels’ weekend series against Seattle is sold out.

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Although it wasn’t listed in morning newspapers, Wednesday night’s game was televised by Fox Sports Net because the Angels had not yet clinched a playoff berth. Jay Lucas, the Angels’ director of broadcasting, said the team and Fox Sports Net weren’t able to finalize the logistics until Wednesday morning. Lucas said ESPN’s contract with baseball would not allow Channel 9 to televise Wednesday night’s game because it is an over-the-air station. Today’s game is also on Fox Sports Net.