Spinners for Sale - POLL ADDED

If the relationship with the Red Sox will continue, are you in for $1000 or more?


  • Total voters
    73

Lose Remerswaal

Experiencing Furry Panic
Lifetime Member
SoSH Member
According to the Globe, Lowell Spinners owner Drew Weber wants to sell the team.
 
 
eber, 70, said it has become harder harder to run the team as he divides his time between homes in Lowell and New York. He said he wants to spend more time with his three grandchildren.
A sale wouldn’t immediately affect the Spinners’ affiliation with the Red Sox, which runs through the 2016. The team’s lease with the city for LeLacheur Park has three years remaining.
Weber and his late wife, Joann, who died in 2006, bought the New York-Penn League team for $2.2 million in 1997. Weber said he has no buyer in mind and hasn’t set a price.
 
How much could they cost?  Are we in?  Cuzittt as GM?
 
 
Assuming we can confirm the relationship with the Red Sox would extend through at least 2020, are you in for a share (or multiple shares) at $1000 each?

This is non-binding.
 

WenZink

New Member
Apr 23, 2010
1,078
The Sober Irishman said:
Aren't the Red Sox the obvious buyers here? It's another minor-league affiliate to take under direct control.
 
That's a reasonable assumption given all the opportunities for cross promotion.  It depends upon the asking price, as well as the Sox projections for demand over the next decade.  I could imagine ticket packages that included Fenway and Pawsox and Spinners.  And, of course, higher ticket prices.
 

Mike F

Mayor of Fort Myers
Lifetime Member
SoSH Member
Apr 13, 2000
2,068
Lose Remerswaal said:
According to the Globe, Lowell Spinners owner Drew Weber wants to sell the team. 
 
 
How much could they cost?  Are we in?  Cuzittt as GM?
Peter, I'm amazed that you are overlooking the fact that Rube Amaro should be available and
Bobby V is looking to manage.
Nah, Cuz is a better choice.
 

pokey_reese

Member
SoSH Member
Jun 25, 2008
16,245
Boston, MA
I would be willing to put in a significant amount of my savings to co-own a baseball team, as long as we could first negotiate an extension on the Sox affiliation.
 

Minneapolis Millers

Wants you to please think of the Twins fans!
SoSH Member
Jul 15, 2005
4,753
Twin Cities
It would be fun to see how many members would, given the opportunity, kick in $1,000 to own the team, Green Bay Packers style.  Can someone set up a poll?  I'm in.
 

JimBoSox9

will you be my friend?
SoSH Member
Nov 1, 2005
16,664
Mid-surburbia
If the people voting "more than 1k" won't post their damn numbers, how are we ever going to keep track of the math?  We need something that looks like a big thermometer filling up, dammit, and it has to be accurate!
 

doc

Member
SoSH Member
Jul 14, 2005
4,471
Lowell Sam's, we can get Sam Adams to sponsor.  Free beer in the owners box.
 

wade boggs chicken dinner

Member
SoSH Member
Mar 26, 2005
30,386
This is a job for Kickstarter. Let's make it a co-operative. I have experience with co-op governance and finance...
Think you would want to do a LLC. Depending on how many people would join, there might be some securities law issues to address.

I'm in though. I knew a judge who was part-owner of a minor league baseball team and he said it was a blast.

Hopefully we are better at running a baseball team than a survivor pool team.
 

Moosey

Mooseyed Farvin
SoSH Member
Jul 20, 2005
4,212
CT
If this got serious I would likely revise my vote past the 1k mark.
 

Snodgrass'Muff

oppresses WARmongers
SoSH Member
Mar 11, 2008
27,644
Roanoke, VA
JimBoSox9 said:
If the people voting "more than 1k" won't post their damn numbers, how are we ever going to keep track of the math?  We need something that looks like a big thermometer filling up, dammit, and it has to be accurate!
How is this not on gofundme yet?
 

pokey_reese

Member
SoSH Member
Jun 25, 2008
16,245
Boston, MA
Maybe we just need the poll to break down amounts more (like, in for 1k, 2-5k, 5-10k, 10-20k, 20k+, or something) to give us a better sense of the amount we have.
 

wade boggs chicken dinner

Member
SoSH Member
Mar 26, 2005
30,386
You know we don't have to come up with the entire amount in cash, right?

If people are really serious about it, while I'm sure there would be a substantial cash requirement, the remainder of it can be financed - if the collateral was sufficient to a bank. . . .

The one big question would be whether people wanted to make a profit or whether this was just a vanity exercise.
 

JimBoSox9

will you be my friend?
SoSH Member
Nov 1, 2005
16,664
Mid-surburbia
Papelbon's Poutine said:
What are we guessing the sale price will be? $4M?
 
I think that's soft.  Considering basic appreciation, the trickle-down effect of franchise valuations going up, and the low appeal of an all-minority-owner group, we're much better off assuming a $10m (US) target.
 

Vegas Sox Fan

Member
SoSH Member
Jul 15, 2005
1,650
The Dirty Desert
wade boggs chicken dinner said:
You know we don't have to come up with the entire amount in cash, right?

If people are really serious about it, while I'm sure there would be a substantial cash requirement, the remainder of it can be financed - if the collateral was sufficient to a bank. . . .

The one big question would be whether people wanted to make a profit or whether this was just a vanity exercise.
 
If we assume the sale price is $10 million, what is a reasonable % of cash required? 20%? If so I think 200 shares at $10,000 per would be more feasible.