Despite coming up short in a fundraising drive to save the team, the Edenton Steamers (summer collegiate; Coastal Plain League) will return in 20111, as the league cuts them some slack on a mandatory letter of credit.
The nonprofit Edenton Chowen Community Foundation, which owns and runs the Steamers, originally had a goal of raising $50,000 by Labor Day. That didn’t happen, but the foundation did raise enough — some $30,000 at that point — to give everyone hope for 2011.
Since then, another $10,000 or so has been raised. Because of this, the league cut the team some slack on a $25,000 mandatory letter of credit, giving the foundation enough cash to hire a full-time GM for the coming season, something the team has never had.
RELATED STORIES: Edenton Steamers not quite dead yet; Edenton Steamers may fold if community support doesn’t arrive; Martinsville Mustangs approach break-even point, ensuring survival for 2011
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