- Ken, Steelheads fan
- Site Admin
- Posts: 2415
- Joined: Tue Nov 25, 2003 7:59 pm
- Location: Gary, Indiana. Otherwise, known as G.I.
Plus who in his/her right mind would buy a commercial property and tell its income source to take a hike. You wouldn't.
It might take some time to convince the Bank on any number offered by the RiverHawks or if an AA ownership group emerges (a higher offer brought about by competition), but at some point the Bank will unload this property at a loss.
In the meantime, the Bank might work out a pay as you go, 1 year lease arrangement with the current team. The bank as a temporary owner probably doesnt want to encumber the property long-term and will leave those decisions to any new owner.
As for private ownership of stadiums, if sports entertainment can be provided at no cost to the taxpayer, that's a plus. The Rockford area should be able to support a baseball team, since the City of Rockford is third largest in the state of Illinois (152,871). Without any rumors the current RiverHawk ownership is trying to sell the team, current ownership must have a plan. Provided the RiverHawks can pay reasonable 2013 rent, there is no reason to lock them out.
Finally, since the Loves Park stadium is privately owned business decisions will decide the stadiums fate, not political choices which are often devoid of common sense, let alone business sense.
We wanted it to open, We wanted to sell it as a running business.
This is local to Rockford and Riverhawks Stadium.
http://www.rrstar.com/blogs/matttrowbri ... olf-course
For what it is worth, in the “Financial Strength” thread I did rank Rockford 13th out of 13 teams. Selling Jersey ads this year was another sign things were tight.
Not sure how advertising on jerseys is any indication of a teams financial strength since the NBA is looking to do it next:
That said, I have yet to hear anything locally. If its true, poor Chris Daleo. I like him (he's great whenever he's on wxrx), maybe he can get the D-League to come to town. LOL
The RiverHawk jersey ads were placed mid-season, which in addition to the stadium foreclosure suggest revenue is tight for the Club.