Adam Ruben from ESPNNewYork.com is reporting that a deal to sell and relocate the Double-A Binghamton Mets (Eastern League) to Ottawa “appears to have fallen through, according to a source with knowledge of the minor league arrangement.” Read more here. Meanwhile, B-Mets president Michael Urda continues to deny reports that the team is part of any Ottawa deal. Read more here.
B-Mets to Ottawa Deal Falls Through?
Filed under League & Franchise
I’m a Binghamton native who grew up watch the 1954-68 Binghamton Triplets (Yankee single A—-when you had D-C-B-A-AA-AAA). I’m amazed at the escalation of team valuations today. I recall the Kinston NC franchise being sold for $250k in 1981 when it was a ‘high A” Carolina League franchise. NYP teams selling now for $4m!!?? Wow: if you calculate the “real dollar value” of such a sale as you compare it to the Kinston franchise deal I just mentioned——you’re looking at that $250k deal in 1981 actualizing at about $1.2m in today’s dollars.
With respect to Binghamton: I recall sitting in Johnson Field watching the ’54–’68 Triplets drawing 2,000 on a GOOD night. I recall their 140 game (70 home game) schedule produced total attendance of around 90k in a good year. Mind you, this is when Binghamton, Johnson City and Endicott were still garden spots due to big employers like IBM. IBM shipped around 30,000 jobs to my present state of residence—-North Carolina during the ’70′s When I visit my hometown of Bing. these days it just depresses me. The economy is not in the toilet—-rather it has created its own cesspool under the house.
So all in all, I think it’s wonderful that my hometown of Bingo has supported the Mets AA franchise all of these years. I admire the town’s guts in keeping a AAA American Hockey League franchise for a long duration (albeit struggling at the gate—-averaging around 3200 fans in a small, 4700 seat building. Finally, the Champions PGA tour has thrived at EnJoie golf course (one of a handful of truly public courses on either tour).
The B-Mets will alas, most likely leave. I live in a Short Season minor league town in Burlington, NC (64 games) and I can tell you that a true BB fan such as myself dare not blink, because is over shortly after it starts.
Keep your head up, Binghamton!
Tom, good points, for example Dayton Dragons are a high A team with a valuation of over $20m, the recent Tucson Padres sold to that group looking to move to El Paso, TX for $20m, Independent League Teams have sold for roughly $1m on average in the Golden Baseball League to teams in the Atlantic League having valuations of $15m+. Sports business is strange as most teams don’t make any money and even a greater percentage loses money annually, yet team valuations have such a great appreciation value that its a very hard investment to explain.
Commish to be honest i am not sure but i believe binghamton mets will be sold one way or another it just takes time agreements concessions and assurances from the parties so lets just hope it gets resolve before April 2013 baseball season
Can somone buy it now but not take over till 2014? How does that work? I assume the B-Mets will be in Bingo for 2013. But who will be in charge if the team is sold?
Well i believe in my opinon the binghamton mets ryan sanders baseball group will make a deal but 4 parties has to think of senaros what would work what wont what concessions to give so this will take time am i right?
Ryan was quoted as to wanting to make a good deal. Once Akron sold for $16.5 that set the bar for Urda. Perhaps that scuttled things for now.
so this is far from over right?
alan can the ryan group rebid and try again?
They could stay at the table as long as it takes, or until one party finally says (and means), “that’s my final offer.”
Alan