Cardinals Purchase of Memphis Affiliate Delayed

5 years 1 week 1 day ago Wednesday, December 04 2013 Dec 4, 2013 Wednesday, December 04, 2013 11:12:02 AM CST December 04, 2013 in News
By: The Associated Press

ST. LOUIS (AP) - The St. Louis Cardinals must wait another week to find out if their bid to purchase a minor-league affiliate in Memphis is approved.

The Memphis City Council on Tuesday night delayed a vote on the proposed agreement between the Cardinals and the Memphis Redbirds Baseball Foundation.

The St. Louis Post-Dispatch reports that elected officials want more time to review the purchase contract.

The agreement calls for the city to purchase AutoZone Park and then lease it to the Cardinals for $300,000 annually as part of a 17-year lease with options for another 10 years. The Cardinals would pay $15 million to purchase the Class AAA franchise and pay for stadium improvements.

The Cardinals already own three of their minor-league affiliates.

 

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