MLB Cardinals Withdraw Offer To Buy Triple-A Memphis Redbirds
Triple-A PCL Memphis Redbirds officials yesterday said that due to "turmoil in the economy and concern over future revenue projections and debt obligations," the MLB Cardinals have "withdrawn a letter of intent to buy" the team, according to Jim Masilak of the Memphis COMMERCIAL APPEAL. Cardinals Chair Bill DeWitt Jr. "recently informed Redbirds officials that his club was withdrawing its letter of intent to purchase the team and rent AutoZone Park." Redbirds President of Business Operations Bill Harter said, "What it boils down to is the economy and where we are in the economy. It isn't that they don't want to buy us. They just can't do it today." The Cardinals in September renewed their player-development contract with the Redbirds for "another four years." Harter said that the Cardinals "have not ruled out the possibility of reviving talks," but added that the Redbirds "would welcome interest from prospective buyers" (Memphis COMMERCIAL APPEAL, 1/14). Harter said that "any future sale of the team would be made easier with the player development contract in place, but the team isn't actively looking for buyers" (BIZJOURNALS.com, 1/13).
|
Related Stories By Company
|
Related Stories By Sport
|
Cardinals Name McGwire Hitting Coach
October 27, 2009 :
SportsBusiness Daily
MLB Cardinals Exceed Attendance Projections
August 10, 2009 :
SportsBusiness Daily
Obama's Appearance Limited Musial Tribute
July 16, 2009 :
SportsBusiness Daily
Prince Fielder Wins Home Run Derby
July 14, 2009 :
SportsBusiness Daily
MLB, Cards To Begin Installing Mini Arches
June 16, 2009 :
SportsBusiness Daily
|
Boras, Manfred Talk About Finances Escalate
November 20, 2009 :
SportsBusiness Daily
Selig: Concerns Around Economy Still Exist
November 20, 2009 :
SportsBusiness Daily
MasterCard Present At WS DVD Premiere
November 20, 2009 :
SportsBusiness Daily
Hicks Hopes To Remain Rangers Majority Owner
November 19, 2009 :
SportsBusiness Daily
Selig Committed To Condensing Playoffs
November 19, 2009 :
SportsBusiness Daily
|
|
