News release from Hardball Capital:
Hardball Capital makes first $50,000 payment
Statement from Jason Freier, CEO of Hardball Capital:
“Last Friday, Mayor Tom Henry asked us to make our payment of $50,000 to the Redevelopment Commission as a demonstration of our continued faith in and support of the Harrison Square development. Although the payment was not yet due under the terms of any agreement, based on the Mayor’s request, we have provided the payment in advance as a show of good faith and appreciation for the partnership with the City. We remain committed to assist the City and the developers in the successful completion of this exciting project.”
Hardball Capital made the first of the $50,000 annual payments to Baker and Daniels’ Trust Account, in their capacity as Corporate Council for the City of Fort Wayne. See attached letter for further details.
Parkview Field, home of the TinCaps, has been a tremendous success story, bringing great baseball and other entertainment to the citizens of Fort Wayne.
Starting Thursday, Parkview Field will be the first single-A facility in the nation to host a regular season Triple-A series. The San Diego Padres AAA affiliate, the Tucson Padres will play the Las Vegas 51s, the AAA affiliate of the Toronto Blue Jays for four games from July 14-17. Game times and promotions are as follows:
[li]Thursday July 14: 7:05 PM (Thirsty Thursday)[/li]
[li]Friday, July 15: 7:05 PM (Post-Game Fireworks)[/li]
[li]Saturday, July 16: 6:05 PM (Three Rivers Festival Fireworks Post-Game)[/li]
[li]Sunday, July 17: 1:05 PM[/li]
The Padres AAA roster currently includes many players who previously played in Fort Wayne, including several key members of the 2009 Midwest League Championship team such as closer Brad Brach, 3B James Darnell and 1B/OF Matt Clark. The TinCaps will be bringing a true “big league” experience to Fort Wayne as 19 members of the Tucson Padres’ roster have played in the Major Leagues. Tickets for all games are still available online at TinCaps.com, by phone at (260) 482-6400, or at the Parkview Field Ticket Office.
Jason Freier’s letter does state the fact that this $50,000 payment will be due from Hardball Capital if the Harrison gets built or doesn’t get built! And please be aware that the revenue for an “average attended” Tin Caps game – just for the tickets – is about this $50,000!! So the revenue from one of about 80 games per year pays this amount! And if the planned agreement is finally signed, what use is made of the first 6 yearly payments? Why, it’s to insure that the developers (who are financially tied very tightly to Hardball) receive their planned profit on the rentals of the appartments (NOT CONDOS !!!).
Still a lousy boondoggle!!!