Richmond group trying to close on Conn. baseball team
Highwoods Properties
A development that would include a baseball stadium is being considered for Richmond’s Shockoe Bottom.
Richmond Baseball Club LC continues to seek funds to close a $15.4 million deal to buy the Connecticut Defenders, according to two sources. Bryan Bostic, chairman of RBC, acknowledged last week that "hurdles" have "prolonged the process" of acquiring the Double-A franchise.
Pete Boisseau, whose public-relations firm represents RBC, said yesterday that "no one other than Donald Trump comments to the media in mid-deal negotiations. It doesn't make any sense. The presidents of Minor League Baseball and the Eastern League have unequivocally assured [Richmond Mayor Dwight C. Jones] that there will be an Eastern League team playing at The Diamond in 2010. It's not a matter of whether, it's just how at this stage."
Boisseau said his statements speak for Bostic, who chose not to comment. Bostic said last week that more than three dozen investors are involved with RBC.
The current location, Major League Baseball affiliation and future ownership arrangement of the Double-A franchise to be based in Richmond next season remain mysteries. In October, RBC set March as the month it aimed to buy a franchise. RBC focused on the Defenders, a San Francisco Giants farm club in the Eastern League. A deal seemed close a few times in recent weeks.
"These are complex business transactions," Tim Purpura, executive vice president of Minor League Baseball, said Thursday. "They take some time."
Under the current proposal, RBC has until the end of this month to buy the Defenders. If that doesn't happen and there is no restructuring of the proposal or deadline extension, the Defenders could be headed to Richmond under Lou DiBella, the current owner, with RBC as an operating partner.
"I think that's possible," said Scott Poley, Minor League Baseball's vice president for legal affairs. "I don't know if that is what is going to happen, but that would be a possibility."
Also an option is another buyer purchasing the franchise and moving it here. Poley added that Minor League Baseball likes "some local involvement. That can take many forms. It can be majority ownership, minority ownership, but we prefer some local ties. We think that's always a good idea."
Another possibility would be an Eastern League franchise other than Connecticut relocating to Richmond.
Jones said Monday that he had been assured by the Eastern League president that one of the league's 12 franchises would be in Richmond for 2010. Eastern League President Joe McEacharn said Thursday that "we have made that commitment" but declined to comment further.
In previous remarks, he has stated that the Eastern League needs to know by Aug. 1 its franchise lineup and member cities for 2010.
But Poley said Thursday that "I don't think that's necessarily the case. It's not that hard to do three different schedules assuming three different possibilities, or four different possibilities. They can do alternate schedules in advance. So, I don't think that is an impediment."
Contact John O'Connor at (804) 649-6233 or
.
Advertisement
Reader Reactions
It seems that people posting on here want to take Richmond back to the dark ages and don’t want any of its residents to have any fun whatsoever. Even if the project was funded with private funds (which most of it is), they still don’t want it. No wonder businesses don’t want to locate here.
dogtown is RIGHT ON THE MARK!
LET’S FIX URGENT NEEDS FIRST.
END OF MATTER.
Let’s quit flogging a dead horse!
People don’t want to pay for a boondoggle, it’s way too expensive, and taxpayers don’t want it raising their taxes, and we don’t want another white elephant in the city.
Let’s focus on Richmond’s attributes and FORGET ABOUT A BALLPARK OR A BALL TEAM!
If you still insist on it, how about teaming up with your fellow citizens and raise the money yourself and leave everyone else out of the equation.
It has become obvious that RBC’s mission statement was never about baseball.
I think the T-D needs to focus on the REAL STORY and see how many taxpayer dollars are being wasted on redundant studies, etc on the “Bottom Boondoggle” plan, when the existing structure on the Boulevard could be renovated for far less than purchasing land and building a new facility. PS: More folks would come to the Boulevard than the Bottom. I don’t need to do a study to tell you that. Would you take your kids to the Bottom?
Richmond Taxpayers: Consider just the adverse information about this proposal that has come to light - finally - this past week: (1) 11% of Richmond’s credit capacity is being sought to back this for-profit venture of Highwoods Properties and Bryan Bostic, (2) there is legitimate doubt that ticket sales and related fan expenditures will rise to the levels required to support the venture (even with city backing), (3)contrary to Bostic’s inaccurate public announcement, there is no “deal” for the additional parking required, (4) the city has had to make a short term loan to cover payments due from the Broad Street organization for which city-backed bonds have been issued AND there is doubt future revenue of that organization will be adequate to support its financial obligations, (5) the roof on a poorly maintained public housing facility for which the city is responsibile, collaped.
These alone are sufficient reasons for the City to decline to back the ill-conceived, misrepresented, and unfunded for-profit ventures of Bostic and the Highwoods organization.
Add to those financial situations the following: (a) the City is under EPA sanctions to remediate sewers which have been long-neglected, (b) the City is still under court-ordered ADA sanctions because of the lack of adequate ADA access to public schools, (c) most public school buildings are in poor repair and need extensive renovation, (d) city real estate taxes, food taxes, tax-like fees on utilities, and other monetary, assessments against citizens are the highest in the region, (e)the homeless and the most severely financially deprived population resides in Richmond requiring very high level of social service expenditures, (f) aging utility and transportation infrastructure urgently needs repair, (g) additional subsidies will be required for Center Stage, and (g)the City continues to be owed millions by the RMA.
All these are urgent reasons for every Richmond Citizen to tell the Mayor and City Council, in very explicit language, to refuse to obligate the City to further the personal and private for-profit business aspirations of Bryan Bostic, Highwoods Properties, and any professional baseball organization.
The City has urgent needs for necessities and CANNOT afford to obligate itself to further individual or corporate for-profit schemes.
And the story gets curiouser and curiouser… This is just another iteration of a series of empty-pocketed sports “moguls” who have tried to make a buck setting up a minor league team in R-town only to go under in a season or two. The song remains the same only the melody has changed.
Post a Comment(Requires free registration)
- Please avoid offensive, vulgar, or hateful language.
- Respect others.
- Use the "Flag Comment" link when necessary.
- See the Terms and Conditions for details.
Advertisement