(CelebrityAccess MediaWire) —
Comcast-Spectacor, which owns the Bowie Baysox, the Delmarva Shorebirds and the Frederick Keys, all affiliates of the Baltimore Orioles, confirmed that it will retain total ownership of all three clubs as a result of the termination of its securities purchase agreement with Triple Play Partners.
The transaction, first announced in July of 2004, was scheduled to close not later than December 31, 2004.
"As the December deadline approached, it became apparent to us that Triple Play was not prepared to close on the terms agreed upon last summer," said Comcast-Spectacor Ventures President Peter Luukko. "Although we worked with Triple Play to attempt to restructure the deal, after the closing date passed, we were unable to come to an agreement.
"We have always been prepared for this deal not to close, so we have continued to operate as if nothing would change. Sometimes things work out for the best," Luukko added.
Comcast-Spectacor also owns the Philadelphia Flyers, the Philadelphia 76ers, the Philadelphia Phantoms, the Wachovia Center and Wachovia Spectrum, Flyers Skate Zone community ice skating and ice hockey rinks and Comcast SportsNet. It is also the principal owner of facility management firm Global Spectrum. — Jane Cohen and Bob Grossweiner