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Royals owners taking offers for purchase of team

Published On: Nov 14 2013 05:47:46 PM CST
Updated On: Nov 16 2013 05:57:22 PM CST

The BCCCA and SMG, co-owners of the Reading Royals, have hired an advisory group to help gather and evaluate offers to purchase the team.

READING -

The Berks County Convention Center Authority and SMG, co-owners of the 2013 ECHL Kelly Cup Champion Reading Royals professional hockey team, announced that they have engaged the services of the W.B. Grimes Sports Advisory Group to solicit and vet private offers to purchase the team.

“On behalf of the BCCCA Board of Directors, we look forward to working with Bob Malandro and the Sports Advisory Group to consider offers by private individuals and investment groups to purchase the Reading Royals professional hockey team,” said P. Michael Ehlerman, Chairman of the BCCCA. “We feel strongly that the team, which is fresh off a record-setting championship season, is currently in prime position for private ownership. In that regard, the BCCCA is prepared to show our commitment to the team’s success by negotiating a mutually beneficial agreement that ensures the long-term economic viability of minor professional hockey in our community.”

“We’re excited to work with the BCCCA and SMG in the effort to find the right private individual or investment group to take an ownership position with the Royals,” said the SAG Senior Associate, Bob Malandro. “Our management team has had the opportunity to see the pro hockey market in Reading in action—most notably at the 2009 ECHL All-Star Classic—which confirmed our belief that this region is replete with hockey history and support. We believe that Royals are properly situated at the current time to make it an attractive investment opportunity for the right person or persons, and we intend to do all within our power to facilitate a smooth transition to an appropriate ownership group.”

The Royals recently completed the team’s twelfth year in Reading with the organization’s first Kelly Cup Championship. On the way to claiming the Kelly Cup, the team enjoyed the best year ever by any statistical measure imaginable, including wins and points in the standings.