Bostic: Economy, stadium situation doomed Defenders deal
DEAN HOFFMEYER/TIMES-DISPATCH
July 4, 2008 file photo of the Diamond.
Bryan Bostic said yesterday that Richmond Baseball Club LC was about to close the deal to purchase the Double-A Connecticut Defenders on May 13. Then, "things happened," said Bostic, who was RBC's leader.
RBC did not meet the $15.4 million sale price of the Eastern League team by the May 31 deadline. The deal died.
Bostic was the face of Richmond's quest to secure a locally owned baseball franchise for Richmond. He said RBC included more than three dozen investors.
"It's a shame. We all tried hard, and we came up short. We don't always win in life," Bostic said. "It's painful, there's no doubt about it. But it was all done in the best interest of the community."
Bostic chose not to specify issues that ultimately killed the deal. "The bottom line behind the situation was unfavorable economic conditions," he said. "They affected many RBC investors, and that's some who were in the deal, some who weren't in the deal and some who pulled out of the deal.
"No one individual at all prohibited this from happening. It was a combination of many factors. Economics was one. Uncertainty with the stadium was clearly another."
Some investors and potential investors had deep concerns about the continued lack of a firm plan for a ballpark. They ultimately chose not to buy into a franchise without knowing where it would play after a couple of seasons at The Diamond.
In October, RBC and Highwoods Properties released plans for the $318 million Shockoe Center, which would include a $60 million ballpark. The city continues to study the proposal.
The Shockoe Center concept drew support, but many Richmond-area residents believe the Boulevard is the area's best spot for baseball. Bostic still strongly advocates Shockoe Bottom as the appropriate location for a stadium he believes could serve as "a catalyst for revitalization."
Bostic said he was proud of the effort he made in keeping alive the idea of a Shockoe Bottom ballpark, first proposed several years ago by the Richmond Ballpark Initiative, of which he was a member. He added that he also is proud for pushing Richmond as a quality market for a Minor League Baseball franchise.
Since the RBC-Defenders deal failed to materialize, Minor League Baseball has been in the process of seeking an owner for the Eastern League franchise expected in Richmond next season.
RBC now exists mostly as a paper entity in contractual matters, Bostic said. Some of the investors who were connected to RBC remain interested in becoming part of the new franchise's ownership group. "That local participation works. It's been proven," Bostic said. "It's what gets the corporate community and other local community groups directly engaged."
Bostic intends to be involved as one of the investors, but he will not lead the local group, he said.
"I think I've done all that I can do, and sometimes in these situations, it takes new leadership," he said. "We need a relief pitcher now."
Contact John O'Connor at (804) 649-6233 or
.
Advertisement
Reader Reactions
baron - i love ya, but you’re wasting your breath. AAA is a superficial status symbol for those who don’t understand the game. They get caught up in the label and don’t look any deeper. Its sad that there are so many people in Richmond who think that, or think that we’re making the stuff about AA up for self-serving reason.
The Phillies minor league system player of the month is in AA right now, their newest member of the starting pitching rotation started in AA this season, their next upcoming pitching prospect is at AA, and just 2 weeks ago a reliever from their AA team was called up and got the win in 2 innings of relief.
Also, given the stadium project in the bottom was reportedly designed to facilitate better drainage in the bottom, why is that project such a bad idea given the current weather? I wasn’t aware that surface lots and potholes were conducive to drainage. If you like the flooding, I guess we can leave that area just the way it is.
For the 974-billionth time…
Triple-A baseball is no longer the most desirable level to have. 10 years ago (and more)—yes—triple-A ball was what you wanted to get if at all possible. But the big league clubs have shifted the focus to grooming hot, up & coming prospects primarily at the double-A level.
The triple-A clubs are predominantly filled with 30-something career minor leaguers going NOWHERE.
THIS HAS BEEN ADDRESSED DOZENS OF TIMES HERE AND OTHER MEDIA OUTLETS. IF YOU DO NOT KNOW BASEBALL, DO NOT ATTEMPT TO COME HERE AND ACT LIKE YOU DO.
If you know finances and politics and wish to discuss that side, fine. But all you people that come here looking to use the level of baseball we’re going to get as an excuse to NOT build a new stadium need to pack it in and stop pretending you know what you’re talking about.
DOUBLE-A BASEBALL IS EXACTLY WHAT WE WANT!
Richmond wants baseball - just not a shady deal by shady people in the Bottom. Sounds like the investors came to their senses. Now maybe the city will come to theirs and abandon this farce.
By the way - to all who have been touting the Bottom as a great location - drive from Poe’s Pub to 12th Street today—it’s flooded and snarled. And we’re only talking rain on an average weekday.
As other posts have said - this mess had been going on too long. The best choice is the Diamond. End the wait - renovate.
If the financial backers were flaunting phoney wealth (as so many of the ‘players’ do), then maybe it’s a good thing that this deal fell through. These chumps come in, talking a good game and then when it turns out that their pockets were empty because they were all ponzi scheme artists or hedge fund managers, the city taxpayer is on the hook. Forget that! Everyone knew that this guy was a poser since the last lame attempt in the summer of 2003.
Your Granddaddy would be ashamed.
Cabbage, where have you been all my RTD-posting life, lol. Agree 100%.
Bostic is to be commended for stepping up and keeping Richmond’s focus upon the void created by the Braves’ departure. Two years ago his venture would have succeeded….the economic climate was the primary cause of the Defender’s deal falling through. Bostic stirred the drink and raised awareness of baseball. No one else had the guts to attempt to land a team.
Also, Richmond has a twisted view of AAA vs. AA. Look at the cities that have/had AA baseball: El Paso, Huntsville, Wichita, Little Rock, Chattanooga, Akron, Birmingham, Jacksonville, San Antonio, Tulsa, Mobile, Montgomery and Portland. AA has the rising stars, not older players and trade bait. We look at the letters AAA as a status symbol, yet we don’t truly act like a AAA city………And those who have called AA bush league, I’ll give you a hundred pitches and we’ll see if you can even bunt ONE. Baseball people know how good they really are.
Bring baseball to Richmond without alll the hidden agendas. Put the whole stadium plan out in the open where everybody can see what is involved. What killed the deal was the fact that Bostic and others wanted a land and money grab at the taxpayers expense. Now would be the time to sit down and finalize a stadium plan without all the time lines of a franchise pushing the plans and creating secrecy. Those who support the Bottom should have to explain how to handle the flooding like what happened earlier this week. Only 4 inches of rain caused backed up sewers and water right in the area planned for this. Redo the Diamond or build one in the bottom but don’t attach all the add ons and provide parking at a resonable rate. Get the RMA out of the stadium business. What does it really matter if a team plays here this year or next.
One day, there will be a successful attempt to place a team in Richmond that is viable and has smart, local ownership. I don’t know what level of ball it will be (hopefully AAA), what organization they will be a part of (hopefully the Nats), or where they will play. The one thing I do know is that Bryan Bostic will have nothing to do with it. Please go away you preening schmoe. You’ve done quite enough.
Wow - what an obituary!
This is twice in around 6 years that a bogus plan was pitched, both times screwing up a deal to keep the Braves and and get a new stadium with the Counties helping. Guess who was the leader of both plans. Duh.
All of us have lost a lot because of this stuff. Sure, the economy may have affected his purchase of the TEAM, but the article deftly avoids his demand for a ridiculous STADIUM. Those are different things.
Personally, I just can’t get past cash being handed out at a civic association meeting or the embarrassment about the parking declarations. Or the “this will be free” stuff. My.
The people are overwhelmingly against a huge amount of City debt for this. My friends want baseball, and if the Boulevard is much more feasible, then let’s just get on with it. Horrible that we had to lose the Braves who twice said they were cool with the Boulevard (and heck they’re in a suburb now) because of two bad plans.
And for the record, the river would be an awesome place for the Coliseum, the Convention Center and a Ballpark. But whatever decisions were made in the past are what they are, and even cool has to get a reality check.
Let’s do a National Slavery Museum in Shockoe. Tons of spending people, good with high speed rail. Helps the businesses down there.
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