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By Karen Cohilas - bio | email
ALBANY, GA (WALB) – After five seasons playing at the Civic Center, the South Georgia Wildcats failed to sign a deal to stay in Albany.
Andre White proposed a contract to create the Albany Panthers in the Southern Indoor Football League.
City commissioners questioned the new league's solvency and White's finances. He then provided a letter proving he has $150,000 in the bank, in the name of the team.
He also agreed to give the city 20% of gross concession revenue.
Wes Smith, Assistant City Manager said, "The risk is really more on the owner in that he's the one putting up the money, he's putting in the management and the people and the time. Frankly, we have already budgeted the cost of having a team down there. This particular situation is less expensive, so we have virtually no risks, other than the risk of having assets of a field, dasher boards,etc, not being used."
The football contract would be for five years. The concessions contract would be for only 18 months. There's also a signage contract and a personal guarantee.
The city commission meets Tuesday night at 8 o'clock to vote on all contracts.
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