AFL's Indiana Firebirds for sale on eBAY
 

As a last-ditch effort to sell the team, Dave Lageschulte, owner of the Arena Football League's Indiana Firebirds, put the franchise up for bid on eBay on Thursday night. As of 4 p.m. ET Friday, one person had matched the minimum opening bid of $1 million, though the auction reserve price has not been met.

The winner of the auction, which will close on Sept. 16, receives the AFL rights to the Indiana market, the team assets and the lease at Conseco Fieldhouse in Indianapolis. The Firebirds are one of two AFL teams expected to announce that they will fold when the league's board of directors meet on Sept. 20.

As of right now, 17 bids have been placed, with the top bid now at over 2.2 million dollars. The reserve has still not been met.


Requirements for potential bidders:

According to AFL requirements, any purchasers are subject to thorough background and financial investigations and must meet a combined net worth of $60 million and must have at least $6 million liquid post-purchase to operate the team. All application materials and fees must be submitted and processed by the AFL prior to September 20, 2004. Application approval requires a 3/4 affirmative vote by the AFL Board of Directors.


http://cgi.ebay.com/ws/eBayISAPI.dll...519718868&rd=1

Re: AFL's Indiana Firebirds for sale on eBAY
 

So why is there a reserve? IF they are going under, take any money you can get and run......especially when that money is currently 2.7 million dollars.

Re: AFL's Indiana Firebirds for sale on eBAY
 

Great, AFL teams going under and being sold on e-Bay, yet a well supported team like the Iowa Barnstormers is allowed to move from a city that built a new arena for them. I still have a vendetta against the league for that. Somebody buy the Firebirds and move them back to Des Moines.

Re: AFL's Indiana Firebirds for sale on eBAY
 

But this raises the question: would you rather have the Firebirds, or the MIG fighter jet that was on there a few months back (both for about $3-5 million)?

Re: AFL's Indiana Firebirds for sale on eBAY
 

Yeesh and I thought the CFL was bad when it comes to folding franchises. I thought you couldn't get any worse then folding a franchise in the MIDDLE of the season but this tops the cake.

Re: AFL's Indiana Firebirds for sale on eBAY
 

Maybe I should bid for them.

Re: AFL's Indiana Firebirds for sale on eBAY
 

Just what I need, my own Arena Football team.

Re: AFL's Indiana Firebirds for sale on eBAY
 

I've been told the reserve is set at 5 million.