Colonials to Seek Local Investors

The owners of the Can-Am League’s Pittsfield (MA) Colonials are expected to form a new LLC that would allow local investors to own a piece of the club through a private placement offering.  The capital raised would be used to pay off debt and ensure the team stays in Pittsfield for the long haul.  If locals join, co-owners Leslie “Buddy” Lewis and NYC attorney Robert E. Seaman, who is currently financing the Colonials, would remain as part of the ownership group.  Without an influx of local capital, the team could be moved.

The Colonials averaged a mere 702 fans per game and ranked #277 out of 281 teams in our annual per game average attendance Mega-RankingsRead more here.  Thanks to John Cerone for the article.

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Filed under Legal, Market & Location, Money & Financials

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