Category Archives: Money & Financials

Biloxi Takes Next Ballpark Steps

Southern League LogoThe 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.

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El Paso Council Approves Higher Ballpark Price Tag

Pacific Coast LeagueIn 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.

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Council to Vote Tuesday on New $60.8 Million Ballpark Contract

Pacific Coast LeagueThe 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.

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Financial Analysis Released for Fredericksburg (VA) Ballpark

Hagerstown Suns LogoAccording 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 hereRead full report here.

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MountainStar Sports to Pony Up $12.1 Million More for Ballpark Project

Pacific Coast LeagueMountainStar 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.

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Environmental Cleanup Adds $8.8 Million St. Paul Ballpark Project

St. Paul Saints Hat LogoThe 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.

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Tampa Mayor Speculates About Funding for New Rays Ballpark

Tampa Bay Rays LogoTampa (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.

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Horse Poo Could Drive Up Cost of Midway Demolition, Cleanup

St. Paul Saints Hat LogoAfter 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.

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Revived Northern League: New Stadium and ‘Elkhart County Miracle’ Announced

Elkhart County Miracle LogoCraig 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

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Ocala (FL) Might Vote On Sales Tax for New Ballpark

Minor League Baseball LogoThe 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.

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A Single-A Option for Ottawa?

Eastern League LogoNewYorkPennLeagueLogoAn Ottawa city committee heard that there is at least one team ready to submit a proposal to bring baseball back to the city, pending $10 million to $30 million in funding for Ottawa Stadium upgrades.  Single-A ball is reportedly a possibility.  Read more here and here.

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Ballpark Land Purchase Proposal on Deck

West Virginia University LogoThe 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.

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BP Oil Spill Money Will Help Build New Biloxi Baseball Stadium

Southern League LogoMississippi 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

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El Paso Approves $50-Plus Million Ballpark Budget

Pacific Coast LeagueAfter 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.

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Cost of New El Paso Ballpark Could Rise by $10M

Pacific Coast LeagueThe 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.

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Feds Investigating Ramapo Ballpark Refinancing

Rockland BouldersFederal 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 hereView photo of federal raid here.

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North Augusta Pitches New TIF Plan for Ballpark

Augusta Green Jackets LogoNorth 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.

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Biloxi Intends to Borrow $21M for New Ballpark

Southern League LogoThe Biloxi (MS) City Council voted 5-2 today to announce its intent to borrow $21 million to be used toward building a new Double-A baseball stadium.  Read more here and here.

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Financial Problems Threaten Future of 78-year-Old Tournament

NBC World Series LogoAn 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.

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Study Gives Fredericksburg Thumbs Up to Hosting Professional Baseball

Atlantic League LogoHagerstown Suns LogoAs expected, representatives from Washington (DC)-based Brailsford & Dunlavey presented to the Fredericksburg (VA) Economic Development Authority today the positive results of a study assessing the economic viability of building a new multi-use baseball stadium in the market.  Read more here.

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Preliminary Ballpark Study to be Presented in Fredericksburg

Atlantic League LogoMinor League Baseball LogoRepresentatives from Washington (DC)-based Brailsford & Dunlavey will present to the Fredericksburg (VA) Economic Development Authority on Monday the preliminary results of a study assessing the economic viability of building a new multi-purpose baseball stadium in the market.  Read more here.

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City Council Approves Restructuring Plan for Peoria Chiefs

Peoria Chiefs LogoAs a follow up to our post last week about the proposed plan to bail out the financially struggling Single-A Peoria Chiefs (Midwest League), the Peoria (IL) City Council on Tuesday overwhelmingly approved the $7 million debt restructuring package by a vote of 9-1.  Read more here.

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Let ‘Free’dom Ring at the Ballpark

Miami Marlins New LogoBrad 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.

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City, CAT, Banks Step Up to Save Chiefs

Peoria Chiefs LogoThe 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

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MiLB Releases Average Cost for Family of Four to Attend a Game

Minor League Baseball LogoPRESS 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

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Finances Dog Cats, As 2013 Schedule is Released

Ft. Worth Cats LogoDespite 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

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Legislature Approves Ballpark Bill in Special Session

West Virginia University LogoNYPL LogoJust 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.

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‘The Wade’ Gets a Little Love in House Bonding Bill

Duluth Huskies LogoThe 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.

MN House Bonding Proposal - Wade Stadium 4.17.13

 

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Johns Hopkins Raising Funds for Renovating Ballpark

Johns Hopkins University Baseball LogoJohns 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.

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Ottawa Looks to Landsdowne Project as Model

Eastern League LogoAs talks continue to bring a Double-A Eastern League team to Ottawa, the city and investors  are contemplating a Landsdowne-style property-development deal to help fund the high cost of renovating Ottawa Stadium.  Read more here

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Officials Look to Special Session for Approval of TIF Bill for Ballpark

West Virginia University LogoNYPL LogoThe 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

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Comparing the Price of Beer and Hot Dogs at MLB Ballparks

Major League Baseball LogoCNNMoney surveyed operators of all 30 Major League Baseball stadiums to see which offer the most bang for the buck at the concession stand.  Read more hereView team-by-team results here.  Thanks to John Cerone for the story.

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Mayor, Councilors Spar Over Wade Renovations

Duluth Huskies LogoAfter 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 hereWatch news report here.

Duluth Huskies The Wade Renovations

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Wingnuts Ditch Long-Time Cashless Payment System at Lawrence-Dumont Stadium

WichitaWingnutsLogoPRESS RELEASE – The Wichita Wingnuts announced Wednesday that Lawrence-Dumont Stadium will be accepting cash at all events for the 2013 season. Continue reading

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Forbes Releases 2013 MLB Team Valuations

MLB LogoForbes announced today its annual valuations of Major League Baseball’s 30 teams, reporting that the average team is now worth $744 millionThis 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

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Budget for Hillsboro Ballpark Up Another $350K

Hillsborough Hops LogoBecause 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.

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Loan for New Ferris Wheel Signed with THE National Bank

Quad Cities River Bandits LogoPRESS 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

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Higher Price Tag, Fewer Seats for New Hillsboro Park

Hillsborough Hops LogoHillsboro’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.

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Skylands Park Sold

Sussex Skyhawks LogoIn 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

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Regional Cooperation for New Richmond Ballpark in Jeopardy?

Richmond Flying SquirrelsIrked by the failure of a legislative compromise to require equal representation of jurisdictions on the Richmond Metropolitan Authority (RMA), Chesterfield County (VA) said Tuesday that it wants to withdraw from regional ownership and operation of The Diamond, home of the Double-A Richmond Flying Squirrels (Eastern League), after the upcoming baseball season and Continue reading

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