In what the team says in an usual request, the City of Joliet is seeking financing information from the Joliet Slammers (independent; Frontier League) as they negotiate a lease extension.
The Slammers are currently playing at Joliet Route 66 Stadium under a one-year lease that expires September 30. There is no commitment in place for 2019 and beyond, and the team recently stated that it wants to secure a lease extension with the city by the end of August, citing a need to inform the Frontier League by mid-September as to whether it will field a team next season.
Negotiations between the two sides will have to unfold, but the city has reportedly called on the Slammers to provide more financial information regarding revenues. A city official has stopped short of disclosing the exact information that is being sought from the Slammers, but notes that the team does not regularly share financial data. Michael Hansen, an attorney representing the team, said that some information (such as ballpark revenue from non-Slammers events) could be offered up, but that the team is not willing to disclose proprietary information about its operations. He also noted that this is an unusual request from the city. More from The Herald-News:
City Manager David Hales would not comment on details of what the city might look for, other than to say the city may want more financial information about stadium operations.
“Currently, there is no sharing of financial information regularly,” Hales said….
“If they want to know about non-baseball revenue that would be relevant to the stadium, that’s fine,” [Hansen] said.
Hansen, who was CEO for the JackHammers, the first team to play at the city-owned stadium when it opened in 2002, said the inclusion of detailed financial information regarding stadium revenues would be a first.
The Slammers and the city agreed to their current one-year lease last year, and the team wants a longer commitment in the next renewal. The team also manages Joliet Route 66 Stadium, and wants to continue serving that role as well.
RELATED STORIES: Slammers Push For Finalized 2019 Lease