Transaction Complete: Waterloo Bucks Under New Ownership
It’s official. When the Waterloo Bucks return to action for their 21st season in 2015, the baseball team will be under new ownership.
The group that owns the Cedar Rapids Kernels minor league team has been in the on-deck circle for nearly four months, working to complete the purchase of the Northwoods League franchise. Now, that group – the Cedar Rapids Ball Club, Inc. – is stepping to the plate to take a swing at running the Bucks’ day-to-day operations. The sale was completed today (Monday, September 29, 2014).
Cedar Rapids Ball Club, Inc. President Gary Keoppel, Kernels General Manager Doug Nelson and Waterloo Bucks General Manager Dan Corbin were on hand for the official signing. The Kernels purchased the team from Twins Sports Group, a company headed by twin brothers John and Steve Marso of Minneapolis.
The potential sale of the Bucks was made public in June, when the Kernels announced they were in exclusive negotiations to purchase the Waterloo team. Since then, the Kernels have obtained the necessary approvals needed to complete the transaction. Among them was permission from Major League Baseball and the lease transfer of Riverfront Stadium, which the Waterloo city council agree to last week.
“The Waterloo Bucks will remain in Waterloo and continue to play at Riverfront Stadium in the Northwoods League,” said Kernels General Manager Doug Nelson. “Dan Corbin has built an excellent front office team. Our plan is not to mess with a winning formula.”
Corbin will remain General Manager of the Bucks, a position he's held since 2004. The rest of the Bucks front office will also remain in place.
Said Corbin, “For years the Waterloo Bucks have provided the people of the Cedar Valley with wholesome, family entertainment and we feel this will only be strengthened with the addition of the resources we are able to share with the Kernels.”
During the next several months a detailed plan will be developed for the 2015 season. It’s anticipated that the team will become more active in the community, make improvements to Riverfront Stadium and enhance the promotions during the games to create an even more enjoyable fan experience for the people of the Cedar Valley.
“Waterloo has a tremendous baseball history, the team receives excellent support from the community and is close enough to Cedar Rapids to share resources,” added Cedar Rapids Ball Club’s president, Gary Keoppel.
The Bucks will begin their 2015 season in late May.