Blues City Baseball out: Global Spectrum to manage Redbirds - Phoenix Business Journal:

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The move was made by the Foundation after Blues City Baseball missed two require bond paymentsof $1.6 million for AutoZone Bonds worth $72 million were issued on the ballparl in 1998 by U.S. Bank. The team was required to make paymentz twicea year. Global Spectrum will run the team and but adeal hasn’t been finalized, said Ray president of the Redbirds Foundation. The Pohlman said, will bring efficienc y to the team’s operations. “Blues City Baseballp has done a great job over the last 12 Pohlman said.
“(Dean Jernigan’s) visiomn brought the Redbirds but it was time for a The deal calls fora 30-day transitionapl period, which will allow Globall Spectrum to evaluate team operations and the staff. Redbirds presideng and general manager Dave Chase will remain with the team at leasg until the end ofthe season. Chase said the preference would have been for the move to happen at the end of the but the Foundation decided to move In January, the withdrew a letter of inten to purchase the team, citingg the economy. The Cardinals did reneqw their player development contrac t forthree years, keepingy the Redbirds affiliated with the Cardinals.
Pohlman said Globalo Spectrum would probably run the team fortwo years, with the ultimates goal being the sale of the team and AutoZone “This is an agreement betweem the lenders and borrowers in the best interestr to keep playing baseball in he said. “The fans won’t notice any