No surprises here, the Fort Worth Cats baseball franchise is hurting for cash, and up for sale. Towards the end of their season I had heard that they were becoming insolvent and firing most of their non-essential employees. Now it seems that they have very few left.
Here’s the interesting part. The franchise is (according to its owner) worth about $40 million. That figure includes not only the team, but also LaGrave Stadium and about 60 acres of land around it. Forget about the team. I doubt anyone will be able to put them in the black anytime soon. 60 acres is a pretty considerable holding in the area that should become the Trinity River Vision Project.
Would be a great buy and hold.
