The Triad Business News is reporting that the Grasshopper’s are considering buying Newbridge Bank Park from the Joseph M. Bryan Foundation.
This really isn’t news as the Joseph M. Bryan Foundation isn’t really into the real estate business. Under the leadership of Jim Melvin, the foundation helped the Grasshoppers move from War Memorial Stadium, which has fallen into far worse condition since the Grasshoppers left, to the new downtown stadium. There is no doubt that the move has made the Grasshoppers far more profitable than before.
There are are a few things the Grasshoppers could go with their new wealth: Buy the stadium, or Buy their concessions contract back.
Buying the stadium, it pretty much a paperwork issue. The Grasshoppers are responsible for all the expenses and they pay the Joseph M. Bryan Foundation rent. This way the Joseph M. Bryan Foundation gets their investment back to help other projects in Greensboro (such as downtown arts center). The check would change from RENT to PAYMENT to a local bank.
As for buying the concessions back, that’s a bigger nut to crack as it involves all sorts of personnel, equipment and liabilities. While it is a giant profit center, it is also a big responsibility. Something the low key Grasshoppers would pass on as long as they have other projects to tackle.