Cardinals Will Acquire Triple-A Affiliate Memphis

In an effort to rescue their financially-troubled Triple-A affiliate, the St. Louis Cardinals will acquire the Memphis Redbirds. The club's home ballpark, AutoZone Park, will be acquired by the City of Memphis.
St. Louis Official Site

The Memphis Redbirds Baseball Foundation ("Foundation") today announced that it has reached a strategic agreement that would rescue the financially troubled Memphis Redbirds and AutoZone Park. The Foundation has been operating the Redbirds and AutoZone Park under a forbearance agreement since it defaulted on its required bond payment in 2010. The agreement calls for the St. Louis Cardinals ("Cardinals") to acquire the Memphis Redbirds and the City of Memphis to acquire AutoZone Park. The City would then lease the ballpark to the Redbirds through a long-term lease agreement. The agreement includes a significant capital investment in AutoZone Park to add features that will significantly improve the overall fan experience.
St. Louis Official Site

The St. Louis Cardinals have reached an agreement to purchase their AAA affiliate in Memphis, with the city of Memphis buying the team’s home ballpark, AutoZone Park.
KMOX

After a long and winding road, the St. Louis Cardinals have acquired the Memphis Redbirds.
KMOV

The Memphis Redbirds will be acquired by the St. Louis Cardinals and AutoZone Park will be acquired by the City of Memphis under an agreement announced this morning by the Memphis Redbirds Baseball Foundation.
Memphis Commercial Appeal

The St. Louis Cardinals will purchase their Triple-A affiliate in Memphis to help the struggling minor league franchise.
Fox16

The financially troubled Memphis Redbirds baseball team and park has reached a deal with the St. Louis Cardinals and the city of Memphis.
KPLR11

This morning the Memphis Redbirds Foundation announced a deal sell the team to the St. Louis Cardinals and to sell AutoZone Park to the City of Memphis.
Biz Journals

The Cardinals have acquired their Class AAA Memphis Redbirds franchise and the city of Memphis has acquired AutoZone Park to help rescue the financially troubled franchise and stadium, which had been operated by the Memphis Redbirds Foundation for the last three years.
Cardinal Beat

Parents are always looking out for their kids, and the same can be said for the St. Louis Cardinals and their Triple-A affiliate Memphis Redbirds.
Fox Sports Midwest

The St. Louis Cardinals baseball organization has a tentative deal with the Memphis Redbirds Baseball Foundation and the city of Memphis in which the Major League Baseball organization would buy the Memphis Redbirds team and city would buy AutoZone Park.
Memphis Daily News