Although the deal isn’t official yet-there are lots of people who have to approve the sale of a sports team-the Lookouts are on their way to having new ownership.
Jason Freier, chairman and CEO of Hardball Capital, a sports and entertainment investment company, and Chattanooga native John Woods are poised to take over ownership of the team.
“We’ve agreed to a deal with the seller,” he said. “If this were not a regulated industry, we would be done.”
As it is, several different baseball organizations have to approve the deal.
Freier said that there will be other partners announced at a later time.
The price tag on the sale is confidential, he also said.
Freier’s company already owns teams in Fort Wayne, Indiana, and Savannah, Georgia. And the company is working on a new stadium in Columbia, South Carolina.
Freier also said that he and Woods’ intentions are to keep the team in Chattanooga.
“Our reason for the purchase is [because] of all the great things that have been done downtown,” he said, also mentioning positive changes in the county, such as Volkswagen and Amazon.
He noted the city’s gig as another positive for the city.
“It’s a great city, and it’s on track to be even better,” he said. “It’s a wave we’d like to catch. [Chattanooga] is where we want to be.”