With the indy pro Newark Bears (Can-Am League) now just a memory, the city of Newark and Essex County, both on the hook for more than $2 million in annual debt obligations on Riverfront Stadium until 2029, continue to scramble to find a new tenant. Meanwhile, former Bears owner Doug Spiel says he plans to join three friends in launching a four-team fall league for rookie-level players in Arizona next September. Read more here.
Category Archives: Money & Financials
Josh Solomon, owner of the Double-A New Britain Rock Cats (Eastern League), showed up at city hall Wednesday afternoon with a check for $164,569, paying off the tax bill on New Britain Stadium and keeping the team’s lease valid. Read more here.
The partners seeking to build a baseball stadium complex in Celebrate Virginia South for the relocating Single-A Hagerstown Suns (South Atlantic League) sent a letter to Fredericksburg officials this morning, making additional offers in an effort to find a way to address $18 million in costs that were unanticipated. Read more here.
Glendale and Goodyear (AZ) may not receive any of the $100 million-plus in repayments the cities were promised for Cactus League baseball complexes, because tax revenue used to pay them continues to fall below original projections. Read more here.
The partners seeking to build a baseball stadium in Fredericksburg for the relocating Single-A Hagerstown Suns (South Atlantic League) are roughly $18 million short in funding and may not go forward with the project without additional financial help. Read more here.
Despite the challenge of drawing fans to Camden (NJ) and a lawsuit from Santander Bank, which contends the team’s owner, Camden Baseball LLC, has defaulted on more than $4.6 million for financing of Campbell’s Field, the indy pro Camden Riversharks (Atlantic League) have a positive outlook about the team’s future in the market. Read more and watch video here. Thanks to John Cerone for the link.
The fourth season of the Pecos Leagues came to a close Friday, when the Santa Fe Fuego defeated the Alpine Cowboys 7-3 in Game 3 of the league championship series. Below is the unedited off-field report issued by the league for each of the 10 teams playing in 2014. Continue reading