Fred and Jeff Wilpon are looking at selling a minority share of the New York Mets due to financial complications due to their family firm’s investments with Bernie Madoff, as they face a potential clawback lawsuit from the court-appointed bankruptcy trustee. The following statement comes from Fred Wilpon, Chairman and Chief Executive Officer of the […]
Tag Archives | sale
MuckDogs set for 2011 in Batavia — but after that, who knows?
The ownership of the Batavia Muckdogs (short season A; NY-Penn League) and the Batavia City Council agreed to a one-year lease for Dwyer Stadium, but the team’s long-term future there is certainly up for debate. The terms of the lease were unchanged from previous years. It’s expected that the Rochester Red Wings (Class AAA; International […]
Rainiers on the block
When Cheney Stadium opens in April after an extreme makeover, the Tacoma Rainiers (Class AAA; Pacific Coast League) may be close to having new owners with ties to the Seattle Mariners, as a local group led by Mikal Thomsen is looking to buy the team from Bob and Kirby Schlegel and minority investor Nick Lachey. […]
Studer: We’re close to buying Double-A team for Pensacola
WINTER MEETINGS — Pensacola Pelicans (independent; American Association) owner Quint Studer says he’s on the verge of buying a Double-A Southern League team to play at his new waterfront ballpark in 2012, with an announcement expected in the next few weeks. Based on conversions we had at the Winter Meetings, the team in question is […]
New Na Koa Ikaika Maui owners addressing debt of previous regime
It’s no secret the original owners of Na Koa Ikaika Maui (independent; Golden Baseball League) ran into some financial issues last season, but the new owners say they’ll address outstanding debts in preparation for the 2011 season. Last season was rough: Though the expansion team was successful on the field, it struggled on the business […]
Burke may put Lookouts on the market
WINTER MEETINGS — In the open-air bazaar that is the real heart of the Baseball Winter Meetings, an unusual name came up for a team that could be on the market in the near future: the Chattanooga Lookouts (Class AA; Southern League), whose owner, Frank Burke, is debating whether to sell the team. The issue, […]
Schaumburg sets eviction date for Flyers; sale expected next week
The village of Schaumburg moved another step closer to evicting the Schaumburg Flyers (independent; Northern League) from Alexian Field, but ownership says an impending sale of the team’s assets should clear up all back rent owed the city. The sale of the Flyers’ assets and other properties isn’t big news: it’s been in the works […]
Did Cards’ sale violate its profit-sharing agreement with the city?
When city taxpayers gave the St. Louis Cardinals tax breaks for building the new Busch Stadium, a provision gave St. Louis a share of any profits arising from any sale of the team. Since then about 13 percent of minority shares have been sold, but the city has seen no revenue from the transactions — […]
OC Flyers owners double down on NAL with purchase of Na Koa Ikaika Maui
Three owners of the Orange County Flyers have doubled down their investment in the new independent North American League with a purchase of Na Koa Ikaika Maui from Xcellence in Entertainment. The trio — owner Harris Tulchin, managing member Leroy Pettigrew and investor Bob Young — announced their purchase via a press release. They’ve been […]
We’re shocked — shocked! — to see Astros on the market
We were amused to see the MLB.com headline this morning: “McLane reportedly puts Astros on market.” Well, duh: he’s been trying to sell the Houston Astros since 2008, and the only thing different is that he’s hired an investment firm to help out. By our reckoning McLane has had the team on the market for […]
Bellingham Bells sold
The Bellingham Bells (summer collegiate; West Coast League) have a new owner, as Bellevue businessman Eddie Poplawski has purchased the franchise from Brett Sports & Entertainment, who have owned the team since January 2008. Poplawski is the former president/CEO/chairman of Anderson Chamberlin (now known as Anderson Daymon Worldwide), Costco’s in-house manufacturer’s rep firm, and the […]
Suns officially sold
The sale of the Hagerstown Suns (Low Class A; Sally League) has officially been completed, with a group of investors buying the franchise from Mandalay Baseball for a reported $6.7 million. The new ownership group is lead by Bruce Quinn, general manager of Polo Trace Country Club in Delray Beach, Fla. The group also includes […]
Rochester probably will run MuckDogs in ’11; team on the block
The Rochester Red Wings (Class AAA; International League) will probably run the Batavia MuckDogs (short season A; NY-Penn League) again next season, and team officials confirm what we’ve heard: that the MuckDogs are now very much for sale. Running the MuckDogs hasn’t been the most financially lucrative move for the Red Wings: the team lost […]