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May 16, 2008 7:41 pm US/Pacific
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Giants President Peter Magowan Steps Down
SAN FRANCISCO (CBS 5 / AP / BCN) ―
Peter Magowan, the owner who brought Barry Bonds to San Francisco, built a new ballpark and kept major league baseball in the city, is stepping down as managing partner and president of the Giants.
The 66-year-old Magowan will retire from his duties at the end of the season on Oct. 1, after more than a dozen years with the organization --but he will maintain an ownership stake in the team.
Magowan said at a Friday afternoon news conference that the decision was a hard one, however he felt it was the right time and wants to be able to be there for his growing family.
"It has been an honor to represent the Giants the last 16 years," he said. "The decision to retire was not an easy one. But it is the right one for my family and me."
"I will remain a partner and, of course, I will always be a Giants fan -- as I have been since I was eight years old," Magowan added. "I have always felt that no individual or group of individuals is really the owner of a sports franchise because a team really belongs to the community."
American Bar Association president William Neukom, a current partner in the Giants group, will take over for Magowan. Also, executive vice president Larry Baer will become team president effective Oct. 1.
These changes are subject to the approval of Major League Baseball. The Giants expect that to happen when the owners next meet, Aug. 13-14 in Washington.
Magowan informed the ownership group of his decision during a meeting Friday. He plans to spend more time with his family once he's through, including seeing more of his 10 grandchildren.
"I have spent the last 29 years as head of two incredible organizations — Safeway and the Giants. I put everything I had in terms of time, energy and commitment into my work and inevitably made some sacrifices," Magowan explained. "Four years ago, I had one grandchild, and now I have 10. This just seems like the right time for me to move on."
Magowan, one of the more public owners in baseball, was mentioned in the Mitchell Report that came out in December. Magowan then met with commissioner Bud Selig during spring training about whether members of the Giants' front office knew players were allegedly using steroids and performance-enhancing drugs.
Magowan told reporters on Friday that his departure was not based on the baseball steroids scandal or the team's not-so-stellar record this season.
The decision to bring Bonds to San Francisco came soon after Magowan bought the team before the 1993 season. The Giants were close to moving to Florida before Magowan's group bought the team from Bob Lurie.
The addition of Bonds revitalized baseball in San Francisco and contributed to the opening of the franchise's privately funded waterfront ballpark in 2000. Last summer, the Giants hosted the All-Star game.
Bonds became baseball's home run king last year. He has since been indicted, accused of lying to a grand jury about his alleged use of performance-enhancing drugs.
Magowan parted ways with the slugger and seven-time NL MVP in September, about a month after Bonds broke Hank Aaron's record with No. 756.
The Giants made the playoffs four times under Magowan's rule. In 2002, they came close to winning their first World Series since moving West in 1958, falling five outs short in Game 6 against the Angels.
Magowan also signed left-hander Barry Zito to a $126 million, seven-year contract before the 2007 season. It was the richest deal ever for a pitcher before his contract was topped by the Mets' Johan Santana and his $137.5 million deal.
Neukom, a member of the Giants' ownership group since 1995 and a general partner since 2003, grew up in nearby San Mateo and lived next door to San Francisco Seals owner Charlie Graham Jr.
He is a partner in the Seattle office of the international law firm Kirkpatrick & Lockhart Preston Gates Ellis.
"Like Peter, I have been a Giants fan almost my entire life," Neukom said. "While no one will be able to match what Peter has accomplished these past 16 years, I am excited about the opportunity before me, and I look forward to continuing the great work of this organization."
Baer is a fourth generation San Franciscan and began his tenure with the Giants in 1993 along with Magowan.
"I will be forever grateful for the partnership Peter and I have shared these past 16 years," he said. "I look forward to working with Bill and the entire organization to continue the rich tradition of Giants baseball and to make San Francisco one of the best baseball towns in the country."
(© CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press and Bay City News contributed to this report.)