Post by Banana Cat on Aug 4, 2010 15:58:52 GMT -5
www.fayobserver.com/articles/2010/08/04/1018792?sac=Sports
Potential suitors for Guard plan to move team
Aug 03, 2010
By Sammy Batten / Staff writer
Local interest in purchasing the Fayetteville Guard hasn't materialized, so owner Richard King is now considering selling the arena football franchise to several out-of-town suitors.
King said Tuesday he's had talks with potential in-state buyers from Greenville and Raleigh, as well as St. Louis. All have indicated they would relocate the franchise, which has been here since 2005.
"I've got a guy from St. Louis coming in Friday to take a look at our bus, the equipment, our business plan,'' King said. "He says he's bringing a check with him. Money talks sometimes.
"But I'm trying to hold off as long as I can because I would prefer having Fayetteville people jump in and keep the team here.''
King said he met with six potential local investors three weeks ago, at which point he explained the costs and time involved in running the team, and the purchase price. But none of those who attended the meeting have gotten back in touch with him.
"I thought there was some interest there,'' King said. "But I'm almost to the point where I could sell it right now. But I'm going to hold off until the end of August to see if someone from Fayetteville will get it. I just don't know if that will happen.''
A source close to the situation said King has offered the American Indoor Football Association franchise to local buyers for $250,000. King said Tuesday is price tag is $60,000 higher for out-of-town suitors.
Although King would not reveal the names of the interested parties from out of town, a source said Tuesday that one contingent is a group of Raleigh realtors.
The Guard completed its sixth season June 26 with a 56-33 loss against the Richmond Raiders. The setback was the team's ninth straight and led to a 2-12 record that was the worst in franchise history.
Declining attendance and a growing lack of time available on King's part to help run the franchise led to his decision to sell the team.
"The last thing I want to do is sell it to someone out of town,'' King said. "I want to go to the games myself. I want to see it prosper and flourish and become something I always wanted it to be.''
Aug 03, 2010
By Sammy Batten / Staff writer
Local interest in purchasing the Fayetteville Guard hasn't materialized, so owner Richard King is now considering selling the arena football franchise to several out-of-town suitors.
King said Tuesday he's had talks with potential in-state buyers from Greenville and Raleigh, as well as St. Louis. All have indicated they would relocate the franchise, which has been here since 2005.
"I've got a guy from St. Louis coming in Friday to take a look at our bus, the equipment, our business plan,'' King said. "He says he's bringing a check with him. Money talks sometimes.
"But I'm trying to hold off as long as I can because I would prefer having Fayetteville people jump in and keep the team here.''
King said he met with six potential local investors three weeks ago, at which point he explained the costs and time involved in running the team, and the purchase price. But none of those who attended the meeting have gotten back in touch with him.
"I thought there was some interest there,'' King said. "But I'm almost to the point where I could sell it right now. But I'm going to hold off until the end of August to see if someone from Fayetteville will get it. I just don't know if that will happen.''
A source close to the situation said King has offered the American Indoor Football Association franchise to local buyers for $250,000. King said Tuesday is price tag is $60,000 higher for out-of-town suitors.
Although King would not reveal the names of the interested parties from out of town, a source said Tuesday that one contingent is a group of Raleigh realtors.
The Guard completed its sixth season June 26 with a 56-33 loss against the Richmond Raiders. The setback was the team's ninth straight and led to a 2-12 record that was the worst in franchise history.
Declining attendance and a growing lack of time available on King's part to help run the franchise led to his decision to sell the team.
"The last thing I want to do is sell it to someone out of town,'' King said. "I want to go to the games myself. I want to see it prosper and flourish and become something I always wanted it to be.''