We have a final lineup for the 2012 independent North American League season, as the owner of the circuit's Yuma franchise is taking over the Orange County Flyers.
The team, which was dormant last season, has played most of its history at Goodwin Stadium at the Cal State-Fullerton campus. An attempt to build a new ballpark in downtown Fullerton at the current Amerige Park site has failed to take off, though a two-year exclusive negotiating deal between the city and the Fullerton ownership remains in effect (technically, anyway).
No money is changing hands: Godfather Media is offering 12 million shares of restricted common stock for 60 percent of the assets of the franchise. It's a penny/pink-sheet stock, trading under a penny today at $0.0039. At today's price, the transaction is worth $46,800.
"This is a great addition to our new business strategy and our goal is to continue to grow rapidly through strategic acquisitions, such as the Orange County Flyers," said Godfather Media CEO Michael Cummings. "With this acquisition, we've achieved a significant milestone and I look forward to our continued success. We have acquired an asset, which I believe will yield a significant return to our shareholders."
The Orange County Flyers will continue to operate as a wholly owned subsidiary of Godfather Media. No word on a lease or a front office for the team.
The announcement does add clarity to the North American League for 2012. The Northern Division will have four teams -- Orange County, Yuma Panthers, Na Koa Ikaika Maui and San Rafael Pacifics. The six Southern Division teams are under separate ownership, and there's no interdivisional play within the league.
RELATED STORIES: Fullerton Flyers returning in 2012?; Fullerton, Flyers enter exclusive negotiating period for new ballpark; More on Fullerton ballpark proposal; Diamond Sports walks away from North American League management; North American League at 10 teams for 2012; Chico Outlaws season scrapped; Edmonton out of North American League; Outlaws negotiating return to Chico in 2012; Abilene in NAL
Share your news with the baseball community. Send it to us at firstname.lastname@example.org.
Are you a subscriber to the weekly Ballpark Digest newsletter? You can sign up for a free subscription at the Newsletter Signup Page.
|< Prev||Next >|