The Biloxi (MS) City Council on Tuesday passed a resolution by a 4-2 vote to borrow $21 million to help fund construction of a $35 million minor-league baseball stadium. Read more here.
Category Archives: Money & Financials
In a 5-3 vote, the El Paso (TX) City Council on Tuesday approved a new price tag of $60.8 million for the design and construction of the new downtown ballpark for the relocating Triple-A Tucson Padres (Pacific Coast League). Read more here.
The El Paso City Council will vote Tuesday on a proposal to increase the price tag for the new ballpark for the relocating Triple-A Tuscon Padres (Pacific Coast League) by $8-million to pay for additional seating and amenities. Read more here.
According to financial projections in a report by Washington, DC-based Brailsford & Dunlavey, the proposed new minor-league baseball stadium in Fredericksburg (VA) would generate surplus revenues of about $274,000 a year for the city after the first few years of operation. Read more here. Read full report here.
MountainStar Sports Group, the investors bringing a Triple-A baseball team to El Paso next year, will pay $12.1 million more toward the Downtown baseball stadium if an amended contract is approved by the City Council on Tuesday. Read more here.
The soil where the Lowertown ballpark is to be built in downtown St. Paul for the indy pro St. Paul Saints (American Association) is more polluted than city officials believed, adding $8.8 million to the $54 million budget for the project. Read more here.
Tampa (FL) Mayor Bob Buckhorn again floated the possibility of generating $100 million for a new Tampa Bay Rays stadium from downtown property taxes via the portion of tax increment financing dollars currently being to pay down bonds for the Tampa Convention Center. Not everyone likes the idea. Read more here.
After the indy pro St. Paul Saints (American Association) move into a new ballpark in Lowertown St. Paul, old Midway Stadium will be demolished with a hefty price tag for the environmental cleanup. It could cost millions because of the acres of horse manure dumped and buried on the site for decades from the nearby fairgrounds before the stadium was built. Read more here.
Craig Wallin, who unsuccessfully tried to bring professional baseball to Elkhart County (IN) in 2010, announced on Friday his plans to build a new multi-million dollar stadium and launch the Elkhart County Miracle in 2014 as part of the revived indy pro Northern League. Wallin said the financing is in place and the project is a “sure thing.” Dan Evans, commissioner of the circuit, joined Wallin Continue reading
The city of Ocala (FL), which has been in discussions with the New York Yankees about bringing a minor league baseball team to the area, is considering asking voters to approve a half-cent sales tax for a stadium in the fall. Read more here.
The West Virginia University Board of Governors will consider on Thursday a proposed $2.3 million land purchase for a new baseball stadium near Morgantown (WV) for the Mountaineers baseball team and a Single-A affiliated club. Read more here.
Mississippi Governor Phil Bryant on Thursday said the state would kick in $15 million in BP oil disaster money to help build a professional baseball stadium in Biloxi. Bryant said, Ken Young, president of Ovations Food Services and an owner of several minor-league teams via Maryland Baseball Holding, LLC (Triple-A Norfolk Tides, Double-A Bowie Baysox, and Single-A Frederick Continue reading
After a heated argument over budget estimates for the new downtown ballpark for the relocating Triple-A Tucson Padres (Pacific Coast League), the El Paso (TX) City Council voted 5-3 to approve a $52.8 million budget for the project. Read more and view new rendering here.
The cost of the new downtown El Paso (TX) baseball stadium for the relocating Triple-A Tucson Padres (Pacific Coast League) could increase by $10 million if the City Council approves changes to the construction contract Tuesday — two days before the ballparks’ official groundbreaking. Read more here.
Federal authorities are reportedly investigating whether Ramapo’s (NY) Local Development Corp. falsely claimed assets it did not have to back the refinancing of bonds, including the $25 million bond for Provident Bank Park, home of the independent professional Rockland Boulders (Can-Am League). Read more here. View photo of federal raid here.
North Augusta (SC) City Officials made their second pitch to the Aiken County School Board on Tuesday night to try and sell them on a TIF (tax increment financing) plan for Project Jackson that would include a new ballpark for the Single-A Augusta GreenJackets (South Atlantic League). Read more here.
An internal audit of the city-owned National Baseball Congress’ books shows its operators, the indy pro Wichita Wingnuts (American Association), are more than a quarter-million dollars in debt and two years in arrears to the city on lease payments for Lawrence-Dumont Stadium. Read more here.
Brad Tuttle from Time magazine’s Business & Money section takes a look at the “game” being played by baseball fans in Miami and elsewhere who are finding ways to avoid paying a dime at the ballpark, whether it’s to punish an owner or simply save a few bucks on a tight budget. Read more here. Thanks to Joe Mock for the link.
The financially struggling Single-A Peoria Chiefs (Midwest League) could be saved with a $7-million restructuring plan that includes forgiveness of bond payments to the city, the purchase of ballpark naming rights by heavy-equipment manufacturer Caterpillar, Inc., loan reduction by banks, increased investment by team owners, and higher fees for Bradley University to use the facility. The deal must Continue reading
PRESS RELEASE – Minor League Baseball™ announced today that the average cost for a family of four to enjoy a Minor League Baseball game this season is $62.52. The total is just $1.29 more than the cost last year. The Triple-A® ($70.03) and Class A® ($62.47) classification average costs both fall within a dollar of their 2012 totals. The cost of attending a Double-A® game this season went up Continue reading
Despite the outcry by some vendors and employees over not being paid, the indy pro Fort Worth Cats (United League Baseball) released their schedule for the upcoming 2013 season. Team owner, league official, and former U.S. Congressman John Bryant confidently had this to say about the team’s finances in the Fort Worth Star- Continue reading
Just when you think the proposed new ballpark in Morgantown (WV) for the West Virginia University Mountaineers and a Single-A New York-Penn League franchise is a no go, a special session of the state legislature makes it happen by approving the tax-increment financing (TIF) bill for the project. Read more and view news clip here.
The Minnesota House of Representatives has proposed $250,000 in bonding for the city of Duluth (MN) to design improvements for historic Wade Stadium, home of the summer collegiate Duluth Huskies (Northwoods League). The Minnesota Senate has yet to unveil its bonding proposal. Locals are working toward a multi-million dollar renovation project.
Johns Hopkins University in Baltimore (MD) is in the process of raising approximately $4.2 million to improve its baseball facility. The new home for the Blue Jays will include an artificial turf field, new dugouts, a 290-seat grandstand and press box, and a plaza area with permanent restrooms and concessions. Read more and view rendering here.
The hopes of a new baseball park for West Virginia University and a Single-A New York-Penn League club were dashed on Saturday night when the state legislature failed to act on the Morgantown Tax Increment Financing bill before the end of the regular session. Proponents are now hoping for action during special session of the Continue reading
After chunks of a wall collapsed at historic Wade Stadium, home of the summer collegiate Duluth Huskies (Northwoods League), Duluth Mayor Don Ness still plans to stick with the timeline to renovate the facility. City Councilors Jim Stauber and Garry Krause want a more urgent response to save The Wade. Read more here. Watch news report here.
PRESS RELEASE – The Wichita Wingnuts announced Wednesday that Lawrence-Dumont Stadium will be accepting cash at all events for the 2013 season. Continue reading
Forbes announced today its annual valuations of Major League Baseball’s 30 teams, reporting that the average team is now worth $744 million. This all-time record marks a 23% increase from last year, which is the largest increase since Forbes began tracking MLB finances in 1998. The increase is driven by new national television deals, climbing valuations for MLB Advanced Media and baseball’s investment fund. Continue reading
Because of unforeseen costs and proposed enhancements to the new $15.2 million ballpark under construction for the Single-A Hillsboro Hops (Northwest League), an additional $350,000 will be sought to complete the project. Read more here.
PRESS RELEASE – The new Ferris wheel coming to Modern Woodmen Park is a step closer to its new home in the Quad Cities, as the Quad Cities River Bandits announced approval of a five-year loan from THE National Bank to fund the project that will bring an iconic addition to the ballpark and riverfront. Continue reading
Hillsboro’s (OR) new $15.2 million baseball facility for the Single-A Hillsboro Hops (Northwest League) will be more expensive and have fewer permanent seats than originally planned, according to city officials. Read more here.
In positive new for the possible return of baseball to Sussex County (NJ), the sale of Skylands Park to Ardmore (PA)-based real estate investment firm 17 Mile LLC indeed closed on Friday, March 15. The facility sold for $950,000, plus $160,000 in overdue taxes and related fees. Skylands is the former home of the Single-A New Jersey Cardinals (New York-Penn League) and indy pro Sussex Skyhawks Continue reading