A group headed by longtime baseball executive David Hersh has signed a purchase agreement to buy the Tacoma Rainiers of the Pacific Coast League from current owner George Foster.
The sale of the Triple-A baseball team is contingent on the approvals of the Pacific Coast League, Minor League Baseball and Major League Baseball. Approval is expected sometime early next year.
The acquisition of this franchise is a long process, and today (Thursday) marks a significant accomplishment, Hersh said. We are pleased for the loyal fans of professional baseball in Tacoma, and we look forward to our discussions with the Pacific Coast League.
Foster, who has owned the club for 13 seasons, ended his three-year search for a buyer in July, when he and Hersh entered into a letter-of-intent agreement. Foster is delighted to have found a buyer who hopes to keep the Rainiers in Tacoma, where the team has played since 1960.
Tacoma has a history rich with PCL baseball, Foster said. Im hopeful David will be able to keep the team here.
