The Charlotte Knights are up for sale, and the team is already fielding inquiries
The Charlotte Knights are for sale, the minor league AAA baseball team confirmed on Monday.
Don Beaver bought the team in the late 1990s, with minority partner Bill Allen. The Knights compete in the International League as an affiliate of the Chicago White Sox and play their homes games at Truist Field in uptown Charlotte.
So far, about eight potential buyers have shown interest in the Knights, according to Dan Rajkowski, chief operating officer for the Knights. There’s no timetable for choosing a new owner.
While it’s unclear how much money the team could be sold for, other recent sales of AAA minor league teams have fetched high-dollar prices. That included Sacramento’s River cats for $90 million and Worchester Woosox, which was purchased by Diamond Baseball Holdings after the company paid $70 million for a majority interest, according to reports from Sports Business Journal and Ballpark Digest.
Dan Rajkowski, chief operating officer for the Knights, spoke to reporters on Monday afternoon about the decision Beaver made with his family before the holidays. Beaver owned five minor league teams at one point and over time divested of them. Charlotte is the last one.
“The goal is to find an owner or ownership group that will continue to build on the solid foundation established on Truist Field by the Beaver Sports company,” Rajkowski said.
Joe Finley, an owner of minor league teams, will work with Rajkowski as a consultant to find potential buyers. Rajkowski said it was important to get Finley involved in the process because of his legal background and understanding o the markets.
Finley is co-owner of the Lehigh Valley IronPigs in Pennsylvania, an affiliate of the Philadelphia Phillies and the Trenton Thunder in New Jersey.
The Knights notified Major League Baseball that they will start exploring the potential sale of the team, according to spokesman Tommy Viola, who released a statement on behalf of the team. A few prospective parties have inquired about the team and the ballpark, according to team officials.
“We want to vet the interested groups to see if a sale makes sense for Don Beaver and his family,” the Knights said. “The Knights have been a tremendous asset to the greater Charlotte region and we are committed to continuing that legacy for years to come.”
The Charlotte Business Journal first reported the potential sale of the Knights.
This year will mark the Knights’ 10th year competing at Truist Field. The season home opener is scheduled for April 2 against the Norfolk Tides, a AAA affiliate of the Baltimore Orioles. The Knights previously played in Fort Mill, S.C., before the uptown stadium opened in 2014.
Truist Field is also being used for non-baseball events, including an outdoor hockey game between the Charlotte Checkers and the Rochester Americans on Jan. 13 for the Queen City Outdoor Classic. It will be the city’s first professional outdoor hockey game.
The Knights future in Charlotte
Rajkowski said he doesn’t see the team leaving Charlotte.
“It’s important that we’re tied closely to this community,” he said. “Charlotte is one of the greatest markets for professional baseball in the community.”
Along with team, the sale also includes the ballpark itself, development rights and the Paper Mill Pub at Truist Field. Rajkowski declined to state how much Beaver’s asking price is.
Rajkowski said he hopes the new owner will work on improving the outfield, something that’s been on the team’s radar. The economy and the pandemic slowed down plans. Building improvements are also needed, although he said there’s not a lot to fix.
“Certainly, someone is going to come in here and have ideas and we got to embrace them,” he said. “I think right now, this is a pretty stable franchise.”
