As expected, the City Council approved a new BB&T Ballpark lease for the Winston-Salem Dash (High Class A; Carolina League), which will pay off a short-term loan and bring in a new ownership group led by the Chicago White Sox.
The new lease, approved unanimously, for the potential new owners of the Dash to invest $8 million into the team; that money would pay down team debt as well as a short-term construction loan. The remaining ballpark debt would be refinanced, and the new owners would control 58 percent of the franchise, with Billy Prim holding the minority stake. The current management team would continue to run the Dash, with a substantial annual rent of $1.8 million.
That the lease would be approved was a given; what may have been a little surprising is that the vote was unanimous and not a single citizen came out to speak out against the deal in an open forum before the vote. Of course, the fact that this deal doesn’t cost the city anything may have had a lot to do with it.
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