As scheduled: the St. Louis Cardinals have closed on their purchase of the Memphis Redbirds (Class AAA; Pacific Coast League), with the city taking control of AutoZone Park. The Memphis Redbirds Baseball Foundation is now out of the baseball game with the sale of both assets, and Fundamental Advisors LP, the Foundation’s sole bondholder, retired […]
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AutoZone Park sale clears final hurdle
Shelby County has agreed to Memphis’s purchase of AutoZone Park, home of the Memphis Redbirds (Class AAA; Pacific Coast League), the final step toward a deal that also sees the St. Louis Cardinals buying the franchise. The city and county each paid $4.25 million in 1998 for the land beneath the ballpark. The approval from […]
Memphis approves purchase of AutoZone Park
The Memphis City Council has approved the purchase of AutoZone Park, home of the Memphis Redbirds (Class AAA; Pacific Coast League), after agreeing to issue $24 million in bonds. The bonds will cover both the purchase of the ballpark and improvements. The purchase of the ballpark from the facility’s bondholder, Fundamental Advisors, also clears the […]
Redbirds still on the market entering 2013
The Memphis Redbirds (Class AAA; Pacific Coast League) are still for sale, according to officials with the Memphis Redbirds Foundation, as the front office preps for the 2013 season with little changing from past years. The Redbirds went from being one of MiLB’s big success stories to a team mired in debt, with the team […]
Status quo reigns in Memphis
Though there’s been chatter about the Memphis Redbirds (Class AAA; Pacific Coast League) being on the market, nothing is on the horizon, says John Pontius. Pontius is treasurer of the Memphis Redbirds Foundation, and he’s been pretty forthcoming about efforts to sell the team and AutoZone Park; a sale to parent St. Louis Cardinals fell through several years ago, […]
Talk of AutoZone Park sale premature: Pontius
Talk of selling AutoZone Park to the city of Memphis was premature, as the Memphis Redbirds Baseball Foundation is exploring several liquidation options, according to treasurer John Pontius. Two weeks ago the news broke that the city was reviewing a proposal to buy the home of the Memphis Redbirds (Class AAA; Pacific Coast League). Pontuis […]
Memphis looking at buying AutoZone Park
The city of Memphis is reviewing a pitch to buy AutoZone Park, home of the Memphis Redbirds (Class AAA; Pacific Coast League), from the nonprofit foundation that owns it. The Memphis Commercial Appeal is reporting that the city’s Housing and Community Development department has a proposal to buy the ballpark from the Memphis Redbirds Baseball […]