Chicago Men Reach Agreement To Buy 60 Percent of Franchise
NASHVILLLE, Tenn. (AP) _ Three Chicago men have reached an agreement with the Nashville Sounds’ president and co-owner to buy about 60 percent of the Class AAA baseball franchise.
Sounds president Larry Schmittou held a news conference Wednesday with Mike Woleben, Mike Murtaugh and Al Gordon. The trio already own the Class A Kane County Cougars of the Midwest League.
The Chicago-area contingent and Schmittou said the Sounds will remain in Nashville _ their home for about 20 years.
The Sounds are a farm club of the Chicago White Sox.
Schmittou owns 30 percent of the Sounds and Nashville businessman Walter Nipper owns 29 percent. The deal reportedly is worth about $4 million.
Reese Smith III of Nashville is the other primary Sounds shareholder with about 30 percent. The other 11 percent is held by eight other shareholders.