BASEBALL / DAILY REPORT : AROUND THE MAJORS : City Gives Pirates $8 Million Loan

The Pittsburgh City Council reluctantly tossed an $8 million rescue line to the Pittsburgh Pirates by approving a loan designed to keep the team afloat and in Pittsburgh.

In 1985, the council approved a $20 million loan to the team. The money hasn’t yet been repaid.

The team, losing as much as $1 million a month, owes a $5.4 million interest payment to Citibank in August. It has nearly exhausted a $34 million line of credit with the bank.

Pirate president Mark Sauer had said that if the team didn’t get the bailout, a new Three Rivers Stadium lease and a salary cap, the Pirates could be sold, possibly to out-of-town buyers who would relocate the 107-year-old franchise.