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Mahoning Valley Thunder seeks additional investors
They’ll help with longevity and overall stability, one of the team’s owners says.
YOUNGSTOWN — The Mahoning Valley Thunder is financially solvent but is seeking additional owners to make the af2 football team stronger.
That’s the explanation given by Michael Slyk, one of the arena football team’s co-owners, for today’s “private invitation only” meeting to offer “equity ownership” to others.
Slyk said he and the team’s other co-owners — Tim Chesney and Jon Saadey — have planned for the past year to seek partners entering this season.
“We’re stable and solvent,” Slyk said. “I’m pleased with where we are. This strengthens the organization as a whole. It helps the team with longevity and overall stability. This is another step to get more people involved and advocating for the Thunder and its success. Larger ownership structures [of sports teams] are the successful ones.”
The Thunder opens its third season Friday against Albany at the Chevrolet Centre. The Thunder of af2, formerly known as Arena Football 2, plays eight home games at the city-owned center.
The owners sent invitations to today’s meeting at the Chevrolet Centre’s VIP lounge “to a number of people who’ve expressed interest in the past” about investing in the team, Slyk said.
He declined to say how many invitations were sent, how much of a percentage the current owners are interested in selling and for how much money.
“We have an amount in mind” is all Slyk would say on the matter.
Youngstown Mayor Jay Williams said last week that team owners have told him this move is to strengthen the organization by increasing its financial resources.
“It’s no secret that everyone is feeling the pinch economically,” Williams said. “The discussions we’ve had with the team have been positive. They haven’t indicated to me they’re folding.”
Slyk said he wasn’t sure if the struggling economy would adversely impact the team’s plan to add investors.
“When I started a year ago I didn’t imagine the economy the way it is,” he said. “Initially, I thought it would [have an impact]. But there are a number of people who are interested. Not everyone’s doing poorly.”
The Thunder was “horrid” last season with a 3-13 record that included using six quarterbacks, Slyk said.
The team is bigger and better this year, he said.
The team’s average attendance last year was 3,235 compared to the league’s average of 4,705.
The team sold about 1,340 season tickets last season.
“Season ticket sales are down a little bit” by a couple of hundred this year, Slyk said. “We’ve seen in the last couple of weeks it picking up. A lot of people do things at the last minute.”
Season tickets cost $96 to $400, depending on seat location. Individual game tickets cost between $12 and $50.
skolnick@vindy.com