Post by rkb on Jun 7, 2007 10:36:36 GMT -5
From the Daily Journal
www.djournal.com/pages/story.asp?ID=244644&pub=1&div=Sports
Tupelo attorney buys into MudCats team
6/7/2007 6:28:34 AM
Daily Journal
By John L. Pitts
Daily Journal
TUPELO -The Mississippi MudCats' drive to the playoffs has gotten a helping hand from a man who describes himself as having been a "horrible" football player.
Tupelo attorney Jim Waide has purchased a 20 percent share of the MudCats' operation from owner Todd Ellis, giving the indoor pro team a shot of cash at a moment when it was badly needed.
The MudCats and Tallahassee Titans will meet in the first pro football playoff game in Northeast Mississippi on Sunday at BancorpSouth Arena.
"It's the first substantial business investment I have ever made outside my law office," Waide said. "It may prove to be a shaky proposition, but I think it's the most worthwhile thing in the world to support in this community."
A native of West Point who attended Millsaps, Waide said he was "a horrible football player, both in high school and college, but I learned so much from the experience.
"And I think it's important for the young people in this community to have these players as positive role models."
Waide said he purchased 10 percent of the team a month ago and an additional 10 percent last week. He didn't rule out purchasing more of the team at a later date.
"There are people who advised me not to do it," Waide said. "But there's no question in my mind that this team will be back in 2008 ... and I can see this becoming a really big deal, where it's sold out every game."
The MudCats have averaged more than 4,000 fans a game in their inaugural season.
Waide said he examined the team's books before buying into the team. MudCats officials have acknowledged that's it's been a struggle in recent weeks to make payroll, with the last revenue-generating home game having been played on April 28.
"Jim was very gracious to help the team out," Ellis said. "He's a good friend with a great interest in football and in this community."
Ellis said an additional 30 percent of the team remains for sale to area investors. He recently estimated the team's value at $500,000 based on the most recent sales of similar franchises.
www.djournal.com/pages/story.asp?ID=244644&pub=1&div=Sports
Tupelo attorney buys into MudCats team
6/7/2007 6:28:34 AM
Daily Journal
By John L. Pitts
Daily Journal
TUPELO -The Mississippi MudCats' drive to the playoffs has gotten a helping hand from a man who describes himself as having been a "horrible" football player.
Tupelo attorney Jim Waide has purchased a 20 percent share of the MudCats' operation from owner Todd Ellis, giving the indoor pro team a shot of cash at a moment when it was badly needed.
The MudCats and Tallahassee Titans will meet in the first pro football playoff game in Northeast Mississippi on Sunday at BancorpSouth Arena.
"It's the first substantial business investment I have ever made outside my law office," Waide said. "It may prove to be a shaky proposition, but I think it's the most worthwhile thing in the world to support in this community."
A native of West Point who attended Millsaps, Waide said he was "a horrible football player, both in high school and college, but I learned so much from the experience.
"And I think it's important for the young people in this community to have these players as positive role models."
Waide said he purchased 10 percent of the team a month ago and an additional 10 percent last week. He didn't rule out purchasing more of the team at a later date.
"There are people who advised me not to do it," Waide said. "But there's no question in my mind that this team will be back in 2008 ... and I can see this becoming a really big deal, where it's sold out every game."
The MudCats have averaged more than 4,000 fans a game in their inaugural season.
Waide said he examined the team's books before buying into the team. MudCats officials have acknowledged that's it's been a struggle in recent weeks to make payroll, with the last revenue-generating home game having been played on April 28.
"Jim was very gracious to help the team out," Ellis said. "He's a good friend with a great interest in football and in this community."
Ellis said an additional 30 percent of the team remains for sale to area investors. He recently estimated the team's value at $500,000 based on the most recent sales of similar franchises.
