A liquidation sale of the San Angelo Colts (Indy Pro, United Baseball League) was recently held at Foster Field, pursuant to a court order because the ownership failed to satisfy the requirements of the their Chapter 11 reorganization plan. Former GM Mike Babcock, who left the team in 2012 after his eight-year tenure at the helm, blamed central league ownership for the team’s demise and said, “We were making money, and in our worst years, we broke even.” Read more here.
Tag Archives: Byron Pierce
The Bankruptcy Court of the Northern District of Texas in Dallas has put the final nail into the coffin of the San Angelo Colts (Indy Pro, United League Baseball). In a recent ruling, the court ordered the ownership’s Chapter 11 reorganization proceedings be dismissed. The next step is liquidation of its assets under the guidance of the court. Read more here.
Texas Attorney General Ken Paxton asked the Bankruptcy Court of the Northern District of Texas to convert the San Angelo Colts (Indy Pro, United League) baseball team’s bankruptcy to Chapter 7, or liquidation, on behalf of the Texas Tech University System and Angelo State University. The order was granted last week, according to court documents. Read more here. Read previous post here.
The San Angelo Colts (Indy Pro, United Baseball League) appear to have new life, after U.S. Bankruptcy Judge Barbara J. Houser approved a third amended version of a Chapter 11 reorganization plan on March 10. Records also indicate that team and Angelo State University have agreed to enter into a new 15-year Stadium Use Agreement for the use of Foster Field starting at $4,166.66 per month plus utilities, with the first payment due by May 1, 2015. Read our previous analysis here.
The owners of the indy pro San Angelo Colts (United League) are still fighting to keep the team alive as they continue to pursue a reorganization plan in bankruptcy. To protect their interests, a number of debt holders have filed objections. A hearing on the confirmation of the debtor’s plan is scheduled for March 4. As you recall, the bankruptcy trustee would like to convert the Chapter 11 reorganization Continue reading
Earlier this week, John Cannon, general manager of the indy pro Rio Grande Valley WhiteWings (United League), confirmed that the team has ceased operations. Doneen Poulton, a widow on a fixed income who forked over $276 for two season tickets for what would have been the 2015 season, said she is concerned she will never see a refund. Read more here.
Alexandria (LA) officials are trying to figure out what to do with Bringhurst Field, but they don’t seem to be in a hurry because there’s no easy solution and there’s no community agreement on it. As you recall, the historic ballpark was partially condemned in 2012 because of structural concerns, and a fire destroyed the clubhouse in December. Read more here. As a United League side note, below Continue reading
Contrary to reports that the indy pro United League Baseball will shut down — along with all of its teams, including the San Angelo Colts — ULB owner John Bryant says the league is in danger but not yet dead. Read more here (subscription required). Read our relevant comments below our San Angelo posting here.
Last fall, the owner of LaGrave Field, Fort Worth Stadium Group LLC led by Houston developer Andrew Schatte, chose not to renew the stadium’s lease with the indy pro Fort Worth Cats (United League) and closed the ballpark down. As a developer, he bought LaGrave in 2012 in hopes of selling it or swapping it for more surrounding land. So far, there have been no takers. Public officials, who have so far rejected the Continue reading
In not-so-surprising news, the indy pro United League has called it quits. Read more here.
The indy pro Fort Worth Cats (United League) are on life support after losing their lease to play at LaGrave Field. The baseball season begins May 15. If the cats can’t find another home by the end of January, it’s doubtful the team will play, according to team owner John Bryant. Read more here.
The trustee overseeing the Chapter 11 (reorganization) bankruptcy filing by the business that owns the indy pro San Angelo Colts (United League) has filed a motion with the U.S. Bankruptcy Court in Dallas to (1) dismiss the Colts’ Chapter 11 filing, or (2) convert it to a Chapter 7 (liquidation) bankruptcy because “The Debtor has failed to file monthly operating reports and failed to provide the United State Trustee with tax returns, proof of insurance, and proof of debtor-in-possession bank account.” Read more here.
The indy pro Fort Worth Cats (United League) have been ejected from LaGrave Field, and the team name will reportedly stay in town, but the actual future of the ballpark remains unclear. It could be leveled, if a team owner or league doesn’t step up to the plate to lease (or maybe even buy?) the facility. We have to believe the indy pro American Association and/or Atlantic League are taking a close look at the situation. Read more here.
The indy pro Fort Worth Cats (United League) have been asked to move out of LaGrave Field, owner John Bryant confirmed on Tuesday afternoon. Bryant said the Cats intend to play the 2015 season and are hopeful to find a new home in the Fort Worth area. However, he acknowledged they might have to relocate to a different city in North Texas. Read more here.
It not-so-shocking news, the indy pro Rio Grande Valley WhiteWings (United League) reportedly owe a t-shirt company money, and the frustrated vendor has decided the seek the help of KRVG’s “5 On Your Side” to get paid. Read more and watch news report here. Read about the San Angelo Colts’ recent bankruptcy here. Read about the Bryant and Pierce show here.
Here we go again with the Bryant and Pierce show, as the ownership of the indy pro San Angelo Colts (United League), led by former Congressman John Bryant, has filed for Chapter 11 bankruptcy, which will stay a foreclosure action and keep the team in operation. The Colts recently received notice of foreclosure from their lender on the stadium note for Foster Field, where the team plays. Read more here.
Consistent with the story posted over the weekend regarding the financial troubles facing the indy pro United League’s Fort Worth Cats, the former field manager, broadcaster, and other players and employees of the now-dormant or defunct first-year Alexandria Aces claim the league still owes them paychecks. When asked by the Alexandria newspaper about money owed, former Aces GM and Continue reading
In an investigative report, ABC News 8 in Dallas-Fort Worth (TX) looks into claims by employees and vendors that they have not been paid by the indy pro Fort Worth Cats (United League). When GM Craig Brasfield is confronted on camera by reporter Byron Harris, he defensively responds with “I’m an employee here, not the owner,” and repeats “Not true” and “Everybody’s paid” when asked Continue reading
In a very belated but troubling story out of Fort Worth (TX) — On Sunday, May 26, 2013, the indy pro United League’s Fort Worth Cats faced the Edinburg Roadrunners at LaGrave Field for the fourth game of the young 2013 season. In the home dugout was embattled former MLB powerhitter Jose Canseco, who signed a short-term contract to play for the Cats. In the opposing Continue reading
Despite 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