Option was executed for St. Louis newspaper.

Dan Sullivan, a St. Louis businessman, said he had executed an option to buy the financially troubled St. Louis Globe-Democrat by advancing the paper $100,000 to cover last week’s payroll. The agreement calls for the purchase to be completed in 45 days. Lou Susman, Sullivan’s attorney, stressed the agreement is “just an option to buy the paper.” Susman said the deal is not complete and declined to mention any of the other investors involved in the purchase of the newspaper. Globe-Democrat owner Jeffrey Gluck called the group of investors “substantive and stable.”