The Boston Globe | By Sean Teehan
April 13, 2017
A plan to purchase a minor league team for a baseball stadium project in Malden may be rounding third after the developer announced a prospective deal with a team owner.
At a Malden City Council meeting Tuesday night, Alex Bok, the founder and developer of the Malden Field of Dreams project, said he signed a letter of intent with the current owner to buy a minor league team affiliated with a Major League franchise.
Bok said Minor League Baseball regulations prevent him from specifying which team he intends to buy until the league approves the transaction.
“We will be seeking the approval of Minor League Baseball over the summer to purchase the team,” Bok said Wednesday. “We expect our purchase of the team . . . to happen sometime by the end of September.”
The Sports Advisory Group, which markets minor league teams from its headquarters in Gaithersburg, Md., is advertising several Single A teams for $9 million or more. Single A is the third rung in the minors behind Double A and Triple A.
The proposed 6,000-seat stadium, across from the MBTA Orange Line, would include 16 private boxes, a kids’ zone, and a family-oriented grass picnic area, according to an online description of Malden Park. The $60 million project would be financed privately, and the developers would not seek any financial assistance from the city.
The 9-acre site encompasses a National Grid-owned parcel on Commercial Street and three private commercial parcels on Canal and Center streets.