The Memphis City Council approved at its Tuesday meeting the issuance of $24 million in city-backed bonds to buy AutoZone Park, thus enabling completion of the deal that will also see the St. Louis Cardinals buy the financially strapped Memphis Redbirds minor league team.
Memphis Commercial Appeal
We bought a ball park.
Memphis Flyer
The city of Memphis just bought a ballpark. After two debate and angst-filled meetings in December, the City Council and the administration of Mayor A C Wharton reconciled and voted for the city to acquire AutoZone Park from Fundamental Advisors for $19.5 million.
Biz Journal
Citing the need for more deliberation and information regarding a proposal that included the Cardinals' purchase of the Triple-A Redbirds franchise, the Memphis City Council had delayed a December vote on the issue. On Tuesday -- more than a month after the council first heard the proposal -- the necessary approval finally came.
St. Louis Official Site
Memphis City Council members approved the city’s $19.5 million purchase of AutoZone Park Tuesday, Jan. 7, and another $4.5 million in improvements to the baseball park.
Memphis Daily News
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