January 14, 2009

Memphis deal nixed

The St. Louis Cardinals are pulling out of a plan to purchase the Memphis Redbirds and rent AutoZone Park.

Bill DeWitt, the Cardinals chairman, announced the news to stop pursuing the deal.

The main reason cited was nixing the deal was economic conditions.

The Cardinals had been working on their plan to purchase the Triple-A team for a long time, approximately four years.

Major league teams buying minor league teams has been a growing trend over the last several years, but with the economic downturn in America, that trend made have come to an end, at least for now.

There was no mention of whether, or when, the ML franchise Cardinals would review and renew another plan to purchase the Memphis Redbirds.