Beacon Sports of Boston has been granted an extension until the end of the first quarter of 2013 to finalize a deal to bring a Double-A Eastern League franchise to Ottawa. Beacon COO Richard Billings will be at the Baseball Winter Meetings in Nashville next week to apparently round up additional investors for the ownership group that already includes Hall of Fame pitcher Nolan Ryan and his sons through the Ryan-Sanders Group. Regarding reports that the deal had fallen through, Billings had this to say:
“We really were looking at the winter meetings as some kind of objective and we’re just not there yet. I think that’s what led to some speculation the deal had fallen through. That is not the case.”
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Billings is the broker on the deal and is paid by Mike Urda to find new owners to purchase and relocate the team, but Billings is not an owner or investor. Rumor out of Nashville is Billings is trying to find a new ownership group as the group of investors lead by the Ryan family is getting cold feet due to the fact that no Ottawa group has come forward to be part of a local ownership group which is why the deadline has been extended. Here in Bingo Urda continues to deny reports that he is selling but we all know he is so why not just coming clean!
In the know you nailed it the ryan sanders baseball group will bring the Binghamton Mets to ottawa once all parties agree on contracts assurances and such work out what do you think?
First rule of thumb for Mr. Billings when purchasing a baseball team-be sure you have the money. And that includes purchase price and working capital and the ability to withstand any losses that might occur.