MLB Cardinals Make Change In Financing Groups

Cards Hire Banc Of America For Financing Of $402M Ballpark

The MLB Cardinals have fired Property Funding Group, the DC-based firm that had been "helping the club secure private financing for a new ballpark," according to Moore & Schneider of the ST. LOUIS POST-DISPATCH. Yaqub Mirza, an officer in Property Funding Group, is being investigated by the Justice Dept. in a federal terrorism case. While Cardinals President Mark Lampling "declined to discuss Mirza," he said that the team was "too uncomfortable to keep a relationship" with Property Funding. The club has hired Banc of America Securities to handle the private financing of the $402M ballpark. The Cardinals hope to move into the ballpark for the start of the '06 season, but do not anticipate work being finished until the All-Star break. The team will no longer host the '06 All-Star Game. (ST. LOUIS POST DISPATCH, 4/18).