On December 5, 1966 –, Bill DeWitt sells the Cincinnati Reds for $7 million to a group of 13 Cincinnati investors. Frank Dale, president and publisher of the Enquirer was named president of the Reds.
The new owners immediately announced they would sign a 40-year lease on the new stadium, which DeWitt was reluctant to do. The lease was completed on February 15, 1967. The new ownership group not only shepherded the Reds into Riverfront Stadium, but presided over the Reds during the Big Red Machine era.
Because of the Frank Robinson trade and his failure to embrace a stadium in dowtown Cincinnati, DeWitt left the club under a cloud. Almost forgotten were the deals he engineered to give the Reds the 1961 National League pennant. DeWitt took over a franchise in November 1960 that had three losing seasons in a row and 14 of the last 16. The Reds finished above .500 for five straight years from 1961 to 1965. In the 20th and 21st century, the only other times the Reds have compiled five or more winning seasons in a row are 1922 to 1926, and 1972 to 1981.
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