Winston Salem Times

The ownership of the Winston-Salem Dash has officially announced the sale of the club to Diamond Baseball Holdings, a company that already owns two Minor League Baseball clubs in North Carolina. According to a recent statement, the Dash ownership has presented a proposal to the city to facilitate the sale of the club.

As part of the transition, the City Council Finance Committee is set to review proposed modifications to the lease agreements between the city and Diamond Baseball Holdings at an upcoming meeting. If the Finance Committee recommends approval, the City Council will then hold a public hearing to consider the modifications for approval.

The city of Winston-Salem had previously approved a new lease agreement back in September 2021, which included significant changes such as a reduced annual lease payment, elimination of ticket surcharge, and compliance with baseball facility standards. Additionally, amendments were made to the incentives agreement to provide economic support for development around the stadium.

Under the new proposal from Diamond Baseball Holdings, the city would see changes in the stadium land and improvements lease agreement, including the addition of a cessation of use penalty. The buyer would be required to repay the city $8.5 million if the club ceased to play at the stadium, among other conditions outlined in the proposal.