Swing deal not a done deal yet
Although a new lease for city-owned John O’Donnell Stadium has been approved, the current and prospective owners of the Swing of the Quad-Cities continue to work to complete an agreement that would lead to the sale of the Midwest League franchise.
Swing team president Kevin Krause said Monday that the ownership group he heads, Seventh Inning Stretch, remains in negotiations with representatives of Florida-based Main Street Baseball.
“There are a few details remaining which we continue to work through,’’ Krause said.
There are some other steps to go through once the deal is finished.
Once that happens, the process begins when a Control Interest Transfer document is filed with the Midwest League.As of Monday, that had not happened, and league president George Spelius said it is unlikely the proposed sale will be discussed by league directors during an upcoming meeting on Dec. 5 that is being held during baseball’s winter meetings in Orlando.
“That’s two weeks away. I can’t see it happening that fast, even if the CIT arrived in the mail tomorrow,’’ Spelius said. “Although we try to expedite the process as quickly as we can, we’re not just going to push it through.’’
When the CIT arrives, a committee consisting of three league directors, Spelius and league attorney Richard Nussbaum will review the document, which includes financial and background information on all individuals involved in the purchase of a team.
“The review is thorough, and I’ve never been part of a review where questions have not been asked,’’ Spelius said. “All of the questions are required to be answered to the committee’s satisfaction before we take the proposal to the league directors.”
This story reads like that old Schoolhouse Rock, "I'm just a bill" cartoon that taught how a bill became a law.
Frankly, I wouldn't mind a cartoon narrated by a signing George Spelius to inform people how Midwest League teams are sold.
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