Team Ownership Opts to Seek Equity Partners
The owners of the New Mexico Thunderbirds announced today that they have begun the process of entertaining offers from prospective purchasers interested in investing in the Team.
"We have loved being able to provide the excitement of NBA minor league professional basketball to New Mexico for the past five seasons," said team owner, Sam Bregman. "We've been able to bring a tremendous amount of joy, charity and affordable fun to the community as a part of that experience. The City of Rio Rancho has been a wonderful and committed partner, and we have been thrilled to be able to showcase the talent of our players in the beautiful Santa Ana Star Center facility this season. The Arena is a great venue for the surrounding communities to enjoy and we believe that as the anchor sports franchise, we have helped introduce a large number of new fans to the venue this year."
The team and the city are in the process of working on a mutually acceptable lease renewal agreement for the upcoming season. Attendance and sponsorship sales have both improved since the team moved to Rio Rancho. Overall League attendance is also up by almost 9%, despite the economy.
"We believe that the New Mexico Thunderbirds can find continued success in the City of Vision," said Bregman. "We have a phenomenal coaching staff in place and we've been able to rebuild a good roster this year that should be able to serve as a strong foundation for next season. However, one of the realities of owning a sports franchise is that it's an expensive and labor intensive proposition for the owners. When Jackie and I agreed to assume full ownership of the team a couple of years ago, it was always with the idea that if we could improve the bottom line of the franchise and stabilize operations, we'd then be able to attract a few select investors that could help us build and grow the team into an even bigger and stronger franchise," Bregman explained.
"The future of the NBA Development League has never looked better," said Jackie Bregman. We are already in preliminary discussions with a number of prospective investors and we'll be going through the process of due diligence over the next several months to identify the best fit. The important point is, I think, that our fans, the present ownership and the City all would really like to see New Mexico's pro basketball team continue and succeed. We are excited that we have been able to nurture the Team along to the point that it now presents a really attractive opportunity to other sports investors."
All inquiries regarding the Team should be directed to the Team Owner, Jackie Bregman, email@example.com, via Bregman & Loman, P.C. (505) 761-5700.
• Discuss this story on the NBA G League message board...
NBA G League Stories from March 22, 2011
- T-Birds Take Down Jam in Overtime - New Mexico Thunderbirds
- Flash Crush Red Claws, Secure Spot in Playoffs - Utah Flash
- Armor Completes Sweep of Skyforce - Sioux Falls Skyforce
- Teamwork Leads Tulsa to 97-94 Victory Over Austin - Tulsa 66ers
- Team Ownership Opts to Seek Equity Partners - New Mexico Thunderbirds
- NBA D-League Daily Developments - G League
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.