(FORTUNE Magazine) – Not everybody would turn down $135 million in favor of $87 million. But billionaire Charles Bronfman, co-chairman with his brother, Edgar, of Seagram Co., is doing just that. In the spring Charles, 59, announced that the Montreal Expos baseball team, which he controls with 72% of the stock, was for sale. Price: $87 million. American bidders promised 50% more, but Montrealer Bronfman wants to keep the team in Canadian hands. He may get his wish. A group of Canadian investors, including Quebec province, plans to put up the money. Why sell? Says Expos President Claude Brochu: ''He feels he's done his bit. He wants to be a fan instead of an owner.'' The Expos need every fan they can get. The club does fine on the field but lags at the gate. Canadians prefer Toronto's Blue Jays, whose owners include real estate developers Edward and Peter Bronfman, Charles's cousins.