Silver Knights sold to Worcester owner
NASHUA – A Nashua Silver Knights off-season of upheaval and change has been hit with the ultimate new development:
Owner Drew Weber has announced he is in the process of selling the Futures Collegiate League franchise to Worcester Bravehearts owner John Creedon, Jr.
The team, both Weber and Creedon said, will definitely remain in Nashua and Creedon is hopeful to finalize the three-year lease extension and concessions contract for Holman Stadium that Weber and the city are said to have on the table. Creedon, who said Monday he is meeting with Nashua Mayor James Donchess later this week, will now own two teams in the FCBL.
A purchase price has not been disclosed, but both Weber and Creedon have said that the plan is to also buy out the team’s minority ownership group headed by Nashua banker Frank Teas, Jr.
“This is in his (Teas’s) best interest,” Weber said. “Why am I selling it at this point? The team has dipped a lot – we’ve had significant (financial) losses.
“I want to keep baseball running smoothly in Nashua, and make sure everyone I owe is paid. … This is the best thing for the city in every single way.”
Teas’s minority group, known as “No, No Nanette LLC”, appears to be on board with the move through a statement:
“While disappointed, Drew’s health and well being is most important to us,” the statement said. “When we purchased a minority interest, we had no intention or capacity to become the majority owner and understood that a sale to another party could happen. Obviously this happened a lot quicker than we had anticipated but Drew has been transparent and communicative during the process and we wish him well.
“While no longer owners, we still will remain fans and continue to support baseball at Holman Stadium. Having a majority owner (Creedon, Jr.) who will be on the ground for every game of the season should be of benefit to the team, the fans, and the City of Nashua.”
Creedon said Monday he hopes to have the group involved in some advisory capacity. In short, Weber feels the franchise can no longer function with absentee ownership due to the financials, and said health issues have cropped up that will prevent him from being hands on.
That Weber is selling the team isn’t a complete shock, not since he first put the team on the market nearly four years ago, when he also sold the affiliated Lowell (Mass.) Spinners.
ut the timing may be, since the Knights are set to open the season at Holman Stadium on May 29 and a lot of sales work for sponsors and tickets has begun.