Battle Brewing for Rights to SWB Yankees?

Mandalay has a $14.6 million option to buy the Triple-A Scranton/Wilkes-Barre Yankees (International League), but an offer this week by an investment group led by local ophthalmologist Dr. Steven Vale to take control of the team for $15 million could throw a wrench into the deal.  If a legal battle were to ensue, it wouldn’t help Mandalay that the Lackawanna County commissioner who negotiated the option agreement back in 2007 was recently convicted of bribery and extortion in connection with his role as a government official.

That said, we haven’t seen the details of the agreement with Mandalay, so we don’t know how much flexibility there is in nixing the deal, even if Lackawanna County wanted to do so.  Is the deal a simple memorandum of understanding, whereby either party could pull the plug, or is it a rock solid option contact?  Read more here and here.

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Filed under Money & Financials, Personnel & Operations

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