Baseball

Mickey Monus resigned as vice chairman of the Colorado Rockies after he was removed as president of Phar-Mor Inc. and the company requested a federal investigation.

Phar-Mor, a 300-store chain based in Youngstown, Ohio, said Monus and Patrick Finn, who was fired as chief financial officer, diverted funds. The company said it will take a $350-million charge against earnings to cover the alleged fraud-related losses.

Monus and his father, Nathan Monus, a general partner with the team, told Commissioner Fay Vincent and National League President Bill White that they will sell their shares in the Rockies. Nathan Monus also will resign as general partner.

“It’s certainly not a happy development,” Vincent said. “I regret it. I’m sorry for all the people involved, especially the Phar-Mor and related people. But he’s no longer involved in baseball.”