Ripken Baseball is in the process of selling the Augusta GreenJackets (Low Class A; Sally League) to an investment group for $7.5 million, according to several owners with knowledge of the sale.
A sale has been discussed recently -- the local alternative weekly has posted some information on its Facebook page -- as a ballpark solution in the Georgia city has proven to be elusive, with Ripken Design floating several different plans over the years.
As part of the sale, there's also talk of a new ballpark in North Augusta. We'll be following that potential development.
If the $7.5-million figure is accurate, it's not good news for the baseball industry. Stagnating or even declining franchise values represented a hot topic at the Winter Meetings -- at least among owners and financial experts we chatted with -- and the fact that the GreenJackets sale is reportedly going for approximately the same price Sally League teams were going for five years ago is a cause for concern.
RELATED STORIES: Downtown Augusta ballpark back up for discussion; Ripken Baseball: Damage control in Augusta; Challenge in Augusta: Paying for new ballpark; Eiseman: We're not tied to Augusta riverfront location; Augusta approves negotiations for new GreenJackets ballpark; Augusta ballpark back in play?
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