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Cedar Rapids River Raiders Looking to Diversify Ownership

August 24, 2004 - United States Basketball League (USBL)
Cedar Rapids River Raiders News Release


Cedar Rapids, IA (August 24, 2004) The Cedar Rapids River Raiders accomplished many different goals that they had set from the origination of the franchise. Now the River Raiders are looking to diversify the ownership by adding more owners to the mix from the area to strengthen and solidify the franchises future for years to come.

The River Raiders ownership, Barry S. Smith and Toni L. Smith, notified the USBL League office of their intent to sell the River Raiders on Monday afternoon. Currently there are two interested parties that would keep the team in Cedar Rapids, one a group of individuals and the other a corporation.

"The River Raiders made a terrific first impression and ran a first class operation providing the basketball fans in Cedar Rapids with an excellent product," USBL Director of Operations Ed Krinsky stated.

This is a business decision made by the ownership to strengthen the team by letting other investors in on the everyday operations of the franchise. It was the goal of the Smith's to bring professional basketball back to Cedar Rapids as another form of sports entertainment for the whole family to enjoy.

"I did not expect the amount of time that we had to invest in the team operations of the River Raiders. I have had to decide what was most important not only for me but for our family, our companies, and our dedicated employees," Smith said.

"We are proud of the fans that put us #1 in attendance in the USBL and we are proud of the entire staff of the River Raiders, Mirage Properties, and Platinum Development that dedicated their time to the success of the team", said Barry and Toni Smith. "We would like to thank Sharon Cummins and the entire staff at the U.S. Cellular Center for providing a first class operation for the River Raiders."

Corporate partnerships posed one of the larger problems for the River Raiders this season, as a lot of companies held a wait and see attitude.

"The team needs some of the bigger companies to get behind us", Assistant Coach & Director of Sales Kenyon Murray said. "They should look at us as value, not as sports, but as family entertainment. Everybody who went to our games said they had a great time."

"It's kind of discouraging when people say there's nothing to do in Cedar Rapids, then companies here say they don't have the resources to get behind you. We were successful, we drew pretty good crowds, and people had fun." Murray said.

The River Raiders are a member of the 20 year-old United States Basketball League (USBL). For more information about the Cedar Rapids River Raiders visit our website at www.crriverraiders.com.

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The opinions expressed in this release are those of the organization issuing it, and do not necessarily reflect the thoughts or opinions of OurSports Central or its staff.

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