From the Daily Journal
www.djournal.com/pages/story.asp?ID=247086&pub=1&div=SportsWaide is MudCats' new big fish
7/19/2007 11:53:09 PM
Daily Journal
By Dennis Seid
Daily Journal
TUPELO - For $154,000 - and counting - Tupelo attorney Jim Waide is officially the sole owner of the Mississippi MudCats.
Waide introduced himself as the indoor pro football team's new owner on Thursday at the BancorpSouth Arena, where the Mudcats play.
Waide wouldn't say how much he paid for control of the franchise, but said so far he had invested $154,000.
And, he added, "it will take a good bit more."
Flanked by team assistant coach Kirk Broussard and business manager Connie Snell at an afternoon news conference, Waide said the team was headed into a new direction for its second season here.
"We believe the Mississippi MudCats can be more than football, that we can bring this community together," Waide said. "We can be role models for the community."
Waide said he wanted to reach out to rich and poor, black and white, male and female, working class and business owners.
"We have to have the support of all of North Mississippi, not just Tupelo," he said.
Players will be participating in more community events, and the team would also reach out to fans.
Snell said Waide Professional Sports LLC, the official name of the MudCats' owner, would solicit corporate sponsors and create a booster club to help build interest in the team.
"We're looking at $100 to $150 for booster club memberships," Snell said. "We're still working on our pricing for our corporate boxes."
The dozen "boxes" would seat 16 people each, and would offer a variety of amenties including snacks foods, drinks, T-shirts and signage.
To make way for the boxes, the movable seating that brought fans closer to the playing field would be eliminated. Most of those seats were complimentary anyway, Snell said, so the addition of the corporate boxes would bring in additional ticket sales.
"We've got a fan base here and we want to help expand it," she said.
Paying the bills
Waide, who in May and June bought 20 percent of the team from former owner Todd Ellis, an Atlanta-area businessman, said he would also work with creditors about the debt that the team owes.
"You know why the Daily Journal wrote about it?" he said, referring to several stories about the issue. "Because they're true."
Waide said he wanted to work with creditors in the next few weeks to resolve any problems.
"Mr. Ellis didn't have the capital to finance the team," he said. "I'm lucky to be in position where I don't have to depend on it for income."
Waide said he wants to meet individually with everybody to whom the team owes money.
"Mr. Ellis claims some claims aren't legitimate, but it seems a good part of it is," said Waide, who said he hopes to make a progress report "in the next 60 days or so" on the team's finances.
Waide also said he had no idea about the amount of debt that was owed, a figure he did not reveal, until late in the process of negotiating his takeover.
"I didn't know about it until the very end (of negotiations), but whether or not I would have bought the team knowing about it - I don't know," he said, shrugging his shoulders. "I knew about problems with the payroll."
William Stewart, who played center for the MudCats during its inaugural 12-4 season, said he was glad that the uncertainty in the front office is gone.
"It's a good thing to have a good local guy to own the team," Stewart said. "People recognize him at the store, at church, at the mall. There's a connection there.
"I was thinking about retiring, but when Jim called me to say he was buying the team, I got excited."
Head coach Brian Brents, who was spending time with his wife and family in Texas, said in a statement that he was "proud to be part of such a wonderful organization" and was looking forward to working with Waide.
"I'd like to personally thank Jim for all the support he gave us during the 2007 season."
Brents also said he anticipated returning to Tupelo in August to coach the team.
Waide said he is negotiating for his return because other teams are interested in hiring Brents.
"If we can match what other teams are offering, Brian said he would come back," Waide said. "We're going to do the best we can to make that happen."
MudCats tryouts
- The MudCats will be having a player tryout on Aug. 25, starting at 9 a.m. at Robins Field. Fee is $55. For more information, call Kirk Broussard at (662) 871-0326.
