CPBL Team Brother Elephants Up For Sale Due To Heavy Financial Losses
Chinese Professional Baseball League team the Brother Elephants President Hung Jui-ho said that the team "is being put up for sale because of heavy financial losses," according to the CNA. Hung said, "I'm here to announce a painful decision made by the board of directors -- the Brother Elephants will come to an end." Hung said that the Brother Hotel, which owns the Elephants, "hopes to find a buyer before the end of the year." Hung: "We hope a company that is bigger and richer than the Brother Hotel will contact us for talks on a takeover deal." Hung calmed fans, however, when he stressed that the team continued to operate normally and said that "it would remain in the league in 2014 if a buyer were not found by the end of this year" (CNA, 10/20).