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 […]
Decision on city takeover of AutoZone Park due today
Big day for the future of AutoZone Park, as the City Council is set to decide on a public purchase of the home of the Memphis Redbirds (Class AAA; Pacific Coast League). The proposal calls for the city to buy the ballpark for $14.5 million and allocate another $4.5 million toward future improvements. Also as […]
Decision on AutoZone Park purchase delayed by Memphis
A sale of AutoZone Park, home of the Memphis Redbirds (Class AAA; Pacific Coast League), to the city has been pushed back to Monday after objections from City Council members. The main objection: the pace of the deal. After years of having the ballpark and the team on the market, the city and the St. […]
Memphis offers $20M for AutoZone Park; city, Cards to pay $20M for renos
The city of Memphis is set to pay $20 million for AutoZone Park, the home of the Memphis Redbirds (Class AAA; Pacific Coast League), and spend $5 million more on upgrades, along with $15 million from the St. Louis Cardinals. Those are the terms of the deal, which will be debated by the Memphis City […]
Cardinals to buy Redbirds, city to buy AutoZone Park
The St. Louis Cardinals will buy the Memphis Redbirds (Class AAA; Pacific Coast League) and Memphis will acquire AutoZone Park, with the two sides signing a long-term lease. The Memphis Redbirds Baseball Foundation, beset with financial issues in recent years, was seeking to shed both assets and met seriously with several parties, including at least […]
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 […]