The group of investors that includes developer Graham Weston, Spurs Chairman Peter J. Holt, other local business executives and civic leaders is reported to have acquired the team for $28 million, a figure they would not confirm.
At the time, the Missions had the lowest average attendance in the Texas League over the past five seasons, according to the study. More seats and more parking are needed.
“That renewal in turn has triggered a virtuous cycle,” wrote the author, Jeffrey Steele. “It has sparked development of new homes and opening of new eateries, shops and businesses in central cities. … You might say the [minor league baseball] downtown stadium is the gift that keeps on giving.” As for whether a new stadium would be paid for in part or whole by the public, as were the AT&T Center and the Alamodome, it’s too early to tell, said Randy Smith, CEO of the downtown development group Weston Urban.
Most new ballparks sit on plots of between 7 and 8 acres, although the Triple-A El Paso Chihuahuas play in a stadium set on 5 acres, the smallest in the league. The property dimensions are what’s most important, Smith said. Cohen, a former Clear Channel Communications executive who brings sports media to the group, added that he has dreamed of owning a minor league baseball team for 20 years.
Reid Ryan, son of Hall of Fame pitcher Nolan Ryan, shakes hands with fellow new owners of the San Antonio Missions.The organization’s goal is to put fans first in everything they do, he said. “We operate with one simple belief — that without the fans, none of us have jobs.”
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