Developer Edward DeBartolo of Youngstown, Ohio, whose...

Developer Edward DeBartolo of Youngstown, Ohio, whose son owns the San Francisco 49ers, has reportedly offered to buy the Cleveland Indians and build them a new stadium, but his offer was rejected by Indians’ owners Richard and David Jacobs.

Although details of the offer were not disclosed, sources told The Cleveland Plain Dealer it was $55 million, 62% more than the Jacobs’ purchase price of $34 million in 1982.

An aide to baseball commissioner Bart Giamatti told the newspaper that as long as DeBartolo owns three race tracks, he would not be allowed to buy a major league baseball franchise.