Thunder owners seeking equity investments
YOUNGSTOWN — The Mahoning Valley Thunder is financially “solvent” but is seeking additional owners to make the af2 football team stronger.
That’s the explanation given today by Michael Slyk, one of the arena football team’s co-owners, for Tuesday’s “private invitation only” meeting to offer “equity ownership to other members of the community.”
Slyk said he and the team’s other co-owners — Tim Chesney and Jon Saadey — have planned for the past year to seek partners for the team.
“We’re stable and solvent,” Slyk said. “I’m please with where we are. This strengthens the organization as a whole. It helps the team with longevity and overall stability. Larger ownership structures [of sports teams] are the successful ones.”
The Thunder’s open its third season Friday against Albany at the Chevrolet Centre. The af2, formerly known as Arena Football 2, team plays eight home games at the city-owned center.
The owners sent invitations to Tuesday’s meeting at the Chevrolet Centre’s VIP lounge “to a number of people who’ve expressed interest in the past” about investing in the team, Slyk said.
He declined to say how many invitations were sent, how much of a percentage the current owners are interested in selling and for how much money.
For the complete story, read Tuesday’s Vindicator or Vindy.com