Ownership Tornado Creates Quite a Mess in Hannibal

We are not sure of all the facts here, but there is plenty going on in Hannibal (MO) stemming from an ongoing ownership dispute between Larry Owens and Bob Hemond, who own 71 percent of the summer collegiate Prospect League’s Hannibal Cavemen.  Claims of financial mismanagement, a pair of lawsuits, a recent receivership hearing, and action by the Hannibal City Council authorzing F&M Bank to sell off Cavemen assets, including the team’s lease, make for an intriguing franchise soap opera.  Read more here.

This is actually pretty sad situation, considering Owens and Hemond were able to take a decaying dump of a ballpark and turn it into a pretty great venue for a new Prospect League team.  Let’s hope this all gets settled soon to stablize the franchise in the market.  Public disputes and disruptions like this can turn off fans and kill a team at the gate.

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Filed under Lease & Contracts, Legal, Money & Financials, Personnel & Operations

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