Chattanooga Lookouts owner to donate AT&T Field stadium to River City Co.
Chattanooga Lookouts owner Frank Burke plans to donate the AT&T Field stadium to River City Co., attorneys said, making a future deal for the sale of the team franchise more attractive for a potential buyer.
Attorneys J. Nelson Irvine and Mike St. Charles revealed Tuesday that Burke, who has been trying to sell the team franchise for nearly three years, would transfer ownership of the stadium to the local nonprofit. The announcement was made during a meeting of the city's Sports Authority Board, which had been dissolved but was recently reconstituted. The board met to update the lease agreement among Burke, the city's Sports Authority and River City.
River City officials said at the meeting their hope is that with a newly updated lease agreement, a potential buyer of the Lookouts would want to stay in Chattanooga and not move the team.
"We're very interested in keeping the stadium and the team," River City President Kim White said. "It's a tremendous part of downtown."
Read more from our news partners at the Chattanooga Times Free Press.