Freund purchased the team from Geneva Cubs Baseball, Inc., headed by Paul Velte. The sale has been approved by the NY-Penn league and Minor League Baseball, with MLB approval pending.
In introducing Freund at the press conference, Velte said, “Twenty-one years ago we came to Williamsport with the idea of providing fun, affordable, family entertainment with the promise of being here for the long-term. I’m extremely proud of what we and the staff have accomplished in Williamsport for over two decades. That being said, our long-term goal was to be able to find an ownership group that would carry on the tradition we started. I’m happy to say that Peter and his group are the type of people that Williamsport will be happy to support.”
“We are thrilled to purchase what is already a first-class organization with a tremendous affiliation,” Freund said. “Doug Estes, Gabe Sinicropi and the veteran staff in Williamsport do incredible work and this is a ready-made situation for our new ownership group. I look forward to working closely with the Philadelphia Phillies and the city of Williamsport in an effort to maximize the Minor League Baseball experience for the many loyal fans who have supported this franchise for the past two decades.”
The new ownership group, Cutting Edge Baseball, consists of majority owner Freund and several limited partners, including current Cutters Vice President, General Manager Doug Estes, Ralph Bernstein, John D. Ericson, Andy, Howard & Michael Kahn, Jeffrey M. Schlerf, Michael, Dan & Amy (Silfen) Schwab in addition to Velte, who will be staying on as part of the ownership group.
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