Blues City Baseball out: Global Spectrum to manage Redbirds - Silicon Valley / San Jose Business Journal:

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The move was made by the Foundationh after Blues City Baseball missed two requirec bond paymentsof $1.6 million for AutoZoned Park. Bonds worth $72 million were issue d on the ballpark in 1998by U.S. Bank. The team was requirerd to make payments twicea year. Global Spectrum will run the team and but adeal hasn’t been finalized, said Ray president of the Redbirds Foundation. The move, Pohlman will bring efficiency tothe team’s “Blues City Baseball has done a grea job over the last 12 years,” Pohlmanj said.
“(Dean Jernigan’s) vision brought the Redbirds but it was time for a The deal calls fora 30-day transitional which will allow Global Spectru m to evaluate team operations and the Redbirds president and general manager Dave Chase will remainm with the team at least until the end of the Chase said the preference would have been for the move to happenh at the end of the but the Foundation decided to move In January, the withdrew a letter of intent to purchase the team, citing the The Cardinals did renew their player development contract for thred years, keeping the Redbirds affiliated with the Pohlman said Global Spectrum woulfd probably run the team for two with the ultimate goal being the sale of the team and AutoZonse Park.
“This is an agreement betweej the lenders and borrowers in the best interest to keep playint baseballin Memphis,” he said. “Thr fans won’t notice any difference.”