According to the Patroit Ledger, the Brockton Rox could miss their next stadium payment, possibly putting the future of the team in jeopardy.
Word is that the Rox will not make the Oct. 1 lease payment to the 21st Century Corp., who in turn will pay the city for the stadium where the Can-Am League team plays.
Donald Walsh, president and CEO of the 21st Century Corp, and its sister company Building A Better Brockton Corp. says the payment will be late, at the very least, but indication is that, there is no timetable for when the payment will arrive.
“Obviously, I’m concerned, Brockton 21st is concerned,” Walsh said this week.
“They said they were working on it, they did not say they won’t pay,” he said. “We have to work things out.”
The team is paid up until now; however, if the team defaults on the Oct. 1 payment procedures have to be followed. Since default on the payment has not happened before all parties involved have to familiarize themselves with the steps.
Typically, the total payment will be turned over to the city that will cover the $8 million bond that helped build Campanelli Stadium.
“I see it as an indication of lousy weather and a tough economy,” Walsh said. “They’re trying to figure out how to work their way out of this.”
Low attendance figures have had an impact on numerous independent league teams this year, including the recently-crowned Golden Baseball League champion Calgary Vipers. They did not see a spike in revenue until July, due in large part to bad weather.
“I’ve never seen anything as frustrating as this,” he said. “Everyone’s been hurt from the lack of business. We have to be flexible and adjust. Obviously, we’ll go back to some kind of business realignment.”
Currently the team is not for sale says former Mayor John T. Yunits Jr., president of the team since 2007.
Presiding Mayor James E. Harrington says the city’s Finance Department is working with the team, assisting with its current finances. “We need to find how the corporation can be paid and keep payments coming in,” said Harrington. “As long as they’re viable, we want to make sure we keep them in Brockton.”
Devon Teeple is an author for the Business of Sports Network, which includes the Biz of Baseball, the Biz of Football, the Biz of Basketball and the Biz of Hockey. He is a former professional baseball player with the River City Rascals & Gateway Grizzlies. Devon is a former student within Sports Management Worldwide’s Baseball General Manager Class. Devon is the founder of The GM’s Perspective and is a intern with The Football Outsiders and contributor with the Plymouth River Eels.
Currently, Devon is a Branch Manager at a financial institution in Southern Ontario Canada. He can be reached at firstname.lastname@example.org or email@example.com
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