LaGrave Field sold to owners of the Fort Worth Cats

Posted Tuesday, Oct. 02, 2012  comments  Print Reprints

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LaGrave Field, home to the Fort Worth Cats minor league baseball team, was sold to an affiliate of the team's ownership group today for $4.5 million.

The transaction, conducted outside the Tarrant County courthouse during a foreclosure auction, will give the team a home "for a long, long time," said John Bryant, managing partner of FW Stadium Group LLC, which bought the property. Bryant said he is also managing partner of the Cats.

The 13.2-acre parcel includes the stadium and land immediately around the facility extending to Sixth Street on the south.

Former Cats owner Carl Bell built the stadium in 2002 and went on to accumulate 58 acres in the area, where he had planned a mixed-use development of residential, retail and office space. But after the economy collapsed, Bell defaulted on a $12.5 million loan from Houston-based Amegy Bank earlier this year.

Amegy had posted the facility twice previously but the foreclosure was withdrawn after talks were extended both times.

Bryant said the ownership group wasn't certain what the stadium's ultimate sales price would be, but he said $4.5 million was about what they expected. "It might reasonably be because of previous negotiations," he said.

Jim Fuquay, 817-390-7552

Twitter: @jimfuquay

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