If you always wanted to own a minor league club, this is your chance. The city of Auburn is putting the DoubleDays into the shopping window. They are asking $6 million for it. In 1982 the city of Auburn took over the team from the owner at his request since he had substantial debts. The city wants the team to stay in Auburn but doesn’t want the municipality to own it.
The city is looking for a buyer and has hired Beacon Sports Capital Partners LLC, a investment bank and financial advisor that is specialized in the sports industry. The company from Needham Massachusetts will help the city sell the team. uburn has put the team for sale since.
The New York Penn League has adviced to put a price tag of $6 million on the A Short Season affiliate of the Washington Nationals.
According to the city there is a significant interest in the team, mostly from people who own one or more minor league franchises.
The spokesperson of the city said that it’s not a city’s business, number one, to have a professional sports team. “Municipalities are facing very tight financial times and the resources are limited.”
The city will turn the club into a limited liability corporation (LLC) after approval of the New York – Penn League. Auburn would then sell all, or a portion of the company as a partnership, to private owners. Money from the sale would go into the city’s general fund and could be used for different kinds of purposes.
The team could advertise itself as the number of fans passing the turnstiles surpassed the previous year. This season 52,811 set foot in the stadium, averaging 1,427 spectators per game.
Since the team is located in the city since 1957, there is a strong tie with the community. Until 1996 the team was named Astros but in that year the team adopted the name DoubleDays to honor Abner DoubleDay, long-believed to be the inventor of the game, who spend his childhood days in the city of Auburn.
As the team made a $9,000 operating profit in 2015, its first in five years, the new owners don’t need to expect to make millions of dollars with the team. But if the fans keep showing up like they did in the last three years, they do not give the new owners a reason to leave the city.