OLC Board has a proposal to buy Gems
7 months, 3 weeks ago by Bob Gough
Buyer must be in place by September 1 in order to meeting Prospect League deadline
The Oakley Lindsay Center Board has received a proposal to buy the Quincy Gems.
At a special board meeting this afternoon, the OLC Board met mostly in executive session to to discuss the terms.
OLC Board Chairman Hubert Staff, Finance Chairman Jim Rinella and OLC Executive Director Rob Ebbing will meet with the prospective buyers to attempt to close the deal.
After last season, where the OLC said they lost $90,000 on the Gems, the Board announced their intentions to sell the team.
The OLC recieved an extension to September 1 from the Prospect League to commit to league play next year, an presumably transfer ownership. The League will receive a 3 percent cut of the sale price.
Ebbing would not discuss the buyer or a ballpark of what the sale price will be. Ebbing said it is the intention for the team to continue playing in Quincy.
The Gems host the Danville Dans to start the Prospect League Eastern Division playoffs tonight at 6:30.