(In 1998 Bank One acquired the naming rights for 10 years at a cost of $70 million.) 11 Baseball Panel Backs Phoenix, Tampa Bay, Arizona Republic, March 8, 1995, A1, A16; DBacks Ownership a Mixed Bag, Arizona Republic, March 30, 1998, C33; Richard Obert, Floating on Air, Colangelo Readies Big Party Today, Arizona Republic, March 11, 1995, C1. ", The team respondedin a statement, saying that with the backing of Major League Baseball, it, has "chosen to streamline the ownership group and reduce the number of partners with very minimal equity stakes in the partnership.". But the downtown area slowly emerged from its doldrums, becoming a destination to visitors outside of bankers hours. ", The attorney for the minority owners, Roger Cohen, said his clients weren't legally required to increase their investment and believed Kendrick's leveraging "had to do with consolidating and increasing the ownership stake of the remaining owners. The Cleveland Indians announced plans to move their spring-training headquarters from Tucson to Homestead, Florida. , "AZ Diamondbacks Team History and Encyclopedia", https://en.wikipedia.org/w/index.php?title=List_of_Arizona_Diamondbacks_owners_and_executives&oldid=1080167209, Lists of Major League Baseball owners and executives, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 30 March 2022, at 17:23. Arizona Diamondbacks: Ken Kendrick - Year acquired: 1995 Ken Kendrick was part of an ownership group that brought an expansion team to Arizona, and he became the Diamondbacks' Managing General Partner in 2004. ET. The plaintiffs insist that Kendrick is using illegal tactics to purge them from the partnership. The complaint contains several claims. The franchise has had two managing general partners, the term it uses for its chief executive officer: Jerry Colangelo (1995-2004) and Ken Kendrick (2004-). If the offered price to buy them out increases, they might ultimately say yes. In other words, both Molina and Weber are owners of the Diamondbacks, but their stakes in the team are under 1%. The answer will deny the claims and likely offer additional information that attempts to rebut or qualify assertions contained in the complaint. However he does like to take on other topics involving some of his personal interests like automobiles, future technologies, and anything else that could change the world. The whole saga began on January 13th, when Kendrick sent out a letter to 22 minority owners with ownership stakes of less than 1% to either buy up or be bought out. Diamondbacks 5, Dodgers 5: The Ties of March, Diamondbacks Spring Gameday Thread, #7: @ Dodgers. During the 1997-98 baseball offseason, the Diamondbacks acquired high-profile, high-priced free agent shortstop Jay Bell and traded for third baseman Matt Williams.22, The Diamondbacks doubled down on the win-now approach in their early years, signing pitching aces Randy Johnson in 1999 and Curt Schilling in 2000 to long-term deals that deferred the big payments until the latter years of their contracts. Showalter preferred a steady player-development program through a farm system while Garagiola adopted the win-now (meaning sign free agents) approach favored by Colangelo. As an NBA executive, he ran in similar circles with MLB executives. Downtown May Fully Awaken, Arizona Republic, March 12, 1995, BB7. He was also playing a central role in negotiating the deal that led to the relocation of the National Hockey Leagues Winnipeg Jets to Phoenixs America West Arena, where they were rechristened the Phoenix Coyotes in 1996.8. New Phoenix Suns talent Kevin Durant owns 5%. To pay off the deferred salaries, the Diamondbacks raised ticket prices sharply in the early 2000s and eventually traded Schilling to the Boston Red Sox in November 2003 and Johnson to the New York Yankees in December 2004 for prospects and cash. See our ethics statement. Carlisle Investments has been a part of the ownership group from 1998 with Molina and Weber buying stakes in 2004, when the team had an operating deficit of $300MM. Through Kendrick, the club retained the consulting firm Bases Loaded. To that end, he is barred from acting in ways that deny the limited partners of their benefits of the partnership. In the expansion draft, the Diamondbacks scooped up veteran starting pitchers Brian Anderson and Jeff Suppan with their first two picks. However, it took some time for the people behind it to get things done, which is why the Arizona Diamondbacks didnt play their first game until 1998. In 2016 Kendrick and the Diamondbacks organization were engaged in contentious negotiations with the Maricopa County Stadium Authority over the future of Chase Field. Weber purchased the equivalent of a .25% interest in the partnership. The 2001 World Series-winning team had an $84 million payroll, of which $46 million was deferred. Something that is perhaps unsurprising when the English earl came from the same roots as the Scandinavian jarl. Regardless, Earl received a significant boost to its popularity centuries and centuries ago because the servants of earls started it as a name. This directive goes to the meaning of the term buy-up/buy-out: a limited partner with less than 1% would need to buy up to at least 1%, or he or she would experience a buy out of their interest. To pay off the construction bonds, Stone or any other prospective tenant agreed to turn over to the city the proceeds from the sale of 212 luxury skyboxes and 10,800 club seats. Jerry Colangelo photo on March 22, 2017, was taken by Gage Skidmore. The presence of the Diamondbacks hardly transformed commercial or residential patterns in Maricopa County. He lost in the Republican primary to attorney John Shadegg, who transformed the campaign into a virtual referendum on Bruners support for the stadium tax. As a result, Showalter was fired after the 2000 season.21, The win-now approach was clearly the governing ideology of the Diamondbacks by the time of the November 18, 1997, expansion draft. Each of those investors was given the opportunity to remain as part of the group by purchasing additional partnership units at a rate determined by a highly respected, independent appraiser. In addition, partners can be called upon to contribute toward fees in a transaction. The Arizona State University baseball program has been a national collegiate power since the mid-1960s. The. Garrett by trade is a personal finance freelance writer and journalist. Odds & lines subject to change. This appraisal indicated that Molina would need to invest another $3.8 million in order to meet the 1% threshold. Colangelos Suns had engendered unprecedented enthusiasm in the region for professional sports with an exciting run to the NBA playoff finals that year. Big-league insiders had made it clear to Arizona leaders that public support for a stadium was a prerequisite for serious consideration for a franchise. The National Anthem is played before the Arizona Diamondbacks game on April 6, 2015, at Chase Field in Phoenix, Arizona. Phoenix, AZ 85004 Contact SABR, Ibid. Freeze outs have been the source of lawsuits involving alleged breach of fiduciary duties, conflicts of interests and self-dealing. Two years later, Johnson and Schilling anchored the team that won the 2001 World Series against the Yankees.23, The Diamondbacks success helped them draw large crowds even after the honeymoon of their first season. Business-wise, Kendrick might be best-known for founding Datatel Inc. They allege that Kendrick violated the law by ordering them to increase their stake in the team or sell their shares back to the team. For now, the plaintiffs signal a desire to remain in the partnership. The lawsuit claims Kendrick acted illegally when coercing them into either increasing their investment in the team or relinquish their ownership stakes at $60 per unit, a number that the plaintiffs call unfairly discounted. In the 1960s, Kendrick founded Datatel, Inc., a computer software developer. While it is unfortunate that the plaintiffs have chosen to decline the offer and take legal action, this decision is well within the rights of the Managing General Partner, who looks forward to the resolution of the matter.". He is also an attorney and the Director of the Sports and Entertainment Law Institute at the University of New Hampshire Franklin Pierce School of Law. This list may not reflect recent changes ( learn more ). In turn, this means that he has been involved with various banks in various other banks as well, with an excellent example being his investment in Woodforest National Bank. Like Scottsdale itself, Talking Stick evokes the Old Southwest with its homages to mission revival architecture, sagebrush surroundings, and views of Camelback Mountain. Thompson, A History of the Cactus League.. Never before had an expansion team reached the playoffs so quickly. Instead, his full name is Earl G. Kendrick Jr., though to be fair, Ken Kendrick has a nice alliterative sound to it. Colangelo agreed to a set of terms that saved Maricopa County taxpayers more than $40 million on the facility.12, The stadium financing deal Bruner and Colangelo worked out capped Maricopa Countys sales tax contribution at $238 million. The Maricopa County Stadium Authority, which was created to save the Cactus League, played a similarly decisive role several years later in the arrival of the Diamondbacks by providing the region with a public institution capable of financing a ballpark costing several hundred million dollars. While these individuals are colloquially referred to as owners, they are more accurately called limited partners. Limited partners comprise a legal entitythe partnershipthat is structured to obtain tax advantages and secure immunities from personal liability. The stadium was to serve as the springboard to a $500 million downtown redevelopment plan that would include public and private investments in commercial and retail space, hotels, and housing. Arizona Diamondbacks (@Dbacks) March 1, 2023 Drey Jameson K's two D-backs No. He served as the Coyotes' Majority Owner, Chairman and . Yuri Gurski is one of, if not the, most successful entrepreneurs in Belarus. The Diamondbacks assert that Chase Field needs significant upgrades or replacement after nearly two decades of use. In-depth coverage of the Valleys real estate market and whats being built and redeveloped in your city. pic.twitter.com/m2n2BoWrVa, D-backs No. First, it can come from cynwrig, which is Welsh for greatest champion. Second, it can come from cyneric, which is Anglo-Saxon for family ruler. Due to this, it can be rather challenging to tell when Kendrick refers to which potential meaning, seeing as how the Welsh and the English have been interacting with one another in various ways since the Roman withdrawal. Involved in Various Philanthropic Endeavors, 10 Things You Didnt Know about Yuri Gurski, The History of and Story Behind the Peloton Logo, The Limitless Possibilities of 3D Printing, 20 Things You Didnt Know About Snapshift, 20 Cities with The Worst Weather in Europe, How Zac Stacy Achieved a Net Worth of $6 Million. To that end, limited partners with less than 1% have been warned that the Diamondbacks could terminate their partnership interests. Cohen said his clients are not seeking a temporary restraining order, but they reserve the right to do so in the future. Accessed August 3, 2016: http://ballparkdigest.com/wp-content/uploads/2016/03/OriginalDbacksletterforChairmanSupervisors03242016.pdf ; Maricopa County Stadium District: Comprehensive Annual Financial Report, Maricopa.gov, June 30, 2013. The overwhelming majority of investors chose one of these options. The teams apparent goal is to streamline the ownership group and reduce the number of partners with very minimal equity stakes in ownership. Nevertheless, Bank One Ballpark has contributed to the revitalization of downtown Phoenix. Many aspire to buy a professional sports team and call the shots. Miami Heat Basketball Operations. As of 2016 Jeffrey Royer, Michael Chipman, and Dale Jensen remained the other general partners. In the context of sports, a limited partnership involves a group of investors and businesses who own respective shares. In 1989 the eight-team Cactus League was in danger of losing one of its founding members. Molina is the chairman and CEO of Molina Fine Jewelers, while Weber is a former professional pitcher. 'Get all the hitters out', Notes: Nelson's outing; new facility paying dividends, Flexing: Each team's top power-hitting prospect, Pipeline Podcast: Druw Jones talks shoulder rehab, making pro debut and more, Pfaadt 'fantastic' in debut -- and he made sure to have fun. Molina, a jeweler by trade, is chairman and CEO of Molina Fine Jewelers. Kendrick has the legal responsibility to engage in fair dealing and act ethically. As general manager the Diamondbacks in June 1995 hired Joe Garagiola Jr., one of the founding fathers of big-league baseball in Phoenix. In recent years, they have worked closely with the Koch political organization. Kendrick is the managing general. 29 Cactus League Stadium Guide: Salt River Fields at Talking Stick, FoxSports.com, February 24, 2016. 9. In early 1993, Maricopa County Supervisor and longtime baseball supporter Jim Bruner began discussing the idea of putting together a bid for a forthcoming new round of expansion with a friend, Phoenix sports attorney Joe Garagiola Jr., the son of the baseball personality, player, and commentator. Kendricks role as general partner is central to the case. The complaint also alleges breach of contract. Royer was an executive in the cable television industry.27, Colangelos tenure as managing general partner (1998-2004) coincided largely with Joe Garagiola Jr.s term as general manager (1997-2005). The Diamondbacks apparently no longer classify the plaintiffs as limited partners. Kendrick also allegedly pledged that the club would resolve differences between the numbers supplied by the two firms (Based Loaded and the firm hired by the limited partners). The move came soon after a drug scandal that threatened the franchises squeaky-clean image. For those who are unfamiliar, said team started up in 1995. Initially, the BOB proved to be its own draw with an unprecedented array of amenities that appealed to spectators who were not especially interested in baseball: several playgrounds, a picnic pavilion, a day spa, and a swimming-pool party area (which could be rented for a group of up to 30 for $4,000 per game) were among the most popular attractions. Ballpark deal in hand, Colangelo made his expansion pitch to major-league owners in February 1994. Cronkite School at ASU Dozens of investors backed Phoenix Suns executive Jerry Colangelos original ownership group, Arizona Baseball, Inc., in 1995. Hell probably get his wish, but it will likely cost the club more than it wants to pay. Kendrick wrote to the teams limited partners in a letter entitled Buy-Up/Buy-Out. As summarized by Cohen (and Sandweiss), the letter informed the partners that, as part of a restructured limited partnership, each would be required to own at least 1% of the clubs partnership or their interest would be bought out. It was no secret that Bill Bidwill, owner of the NFLs St. Louis Cardinals, intended to move to Phoenix. The leadership of former pitching ace Dave Stewart and Hall of Fame manager Tony La Russa, has as of 2016 failed to turn around the fortunes of the franchise, finishing well out of contention in all three seasons of their tenure.28, Since Kendrick became managing general partner, the Diamondbacks have moved into a new spring-training facility, the architecturally striking Salt River Fields at Talking Stick, an 11,000-seat facility in Scottsdale that they share with the Colorado Rockies. Join Matt Vasgersian and Harold Reynolds on MLB Network for the latest news, analysis and more, weekdays at 9 a.m. SPORTS ILLUSTRATED is a registered trademark of ABG-SI LLC. Here are 10 things that you may or may not have known about Ken Kendrick: Ken isnt Kendricks personal name. After graduating in 1962 he eventually found work with the NBAs Chicago Bulls and rose quickly through front-office positions. 27 Jerry Colangelos Shadow Remains Prominent Over Diamondbacks.. Granted, this level of ownership doesnt provide authority over team decisions, on- or off-the-field. Three Arizona Diamondbacks minority owners say they are being forced out of the ownership group illegally and have sued to remain partners or to receive higher payouts for their shares. Pages in category "Arizona Diamondbacks owners" The following 6 pages are in this category, out of 6 total. The three minority owners in question are Alfredo Molina, CEO of a Phoenix-area jewelry company; Jim Weber, a former professional pitcher; and Carlisle Investments. Although there are a number of methods that see use in 3D, Read More The Limitless Possibilities of 3D PrintingContinue. Other claims include those for breach of fiduciary duty and breach of implied covenants of good faith and fair dealing. They were to begin playing in the 1998 season. Get your tickets for the Guns N Roses concert on Oct. 11 at Chase Field. Suffice to say that Princeton is not an uncommon name, seeing as how it is not uncommon for towns to be named for one prince or another. He did so through a transaction with retired Diamondbacks third baseman Matt Williams, who at the time owned a .5% interest. Termination can occur through what is known as a freeze out merger. Also in contention is whether Major League Baseball pushed the Diamondbacks to reduce the number of minority owners with less than a one percent stake in the team or whetherthe team took the idea to. Thompson, A History of the Cactus League., , May 23, 1976, B3; Lee Shappell, Jerry Colangelo,, https://sabr.org/sites/default/files/ChaseField-2015.png, /wp-content/uploads/2020/02/sabr_logo.png, Arizona Diamondbacks team ownership history, springtrainingmagazine.com/history4.html#cactus, http://ballparkdigest.com/wp-content/uploads/2016/03/OriginalDbacksletterforChairmanSupervisors03242016.pdf, http://foxsports.com/arizona/story/cactus-league-stadium-guide-salt-river-fields-arizona-diamondbacks-colorado-rockies-022416, http://azcentral.com/story/entertainment/events/2015/02/25/cactus-league-stadium-guide-salt-river-fields-at-talking-stick/24009267/. Three minority owners of the Arizona Diamondbacks are suing managing general partner Ken Kendrick after Kendrick initiated a forced buyout for stakeholders who own less than 1% of the team, according to The Athletic's Zach Buchanan . Besides his role as the founder of Datatel, Kendrick has spent some time as a banking executive as well. His opposite number was Jim Bruner, a member of the Maricopa County Board of Supervisors, who also constituted the Maricopa County Stadium Authority. Among the Diamondbacks limited partners are Alfredo Molina and Jim Weber. In fact, the target was reached four months earlier than expected, in November 1997, two years after construction began on the 48,500-seat domed stadium and four months before the first pitch.14, But even with the taxpayer-friendly amendments to the deal, widespread opposition emerged almost immediately to the public financing of a ballpark without voter input. The Legislature also authorized the county Board of Supervisors to impose a 0.25 percent sales tax to help finance construction of a baseball stadium if one of the countys municipalities was awarded a franchise.6, Stone continued to pursue a major-league team for Phoenix into the early 1990s. Majority control of the Diamondbacks is owned by a four-person investment group that took over the club in 2004 from initial majority owner Jerry Colangelo. Naimoli.) Accessed June 10, 2016: http://bizjournals.com/phoenix/stories/2008/03/31/story7.html. Jensen is the co-founder of Information Technology, which develops software for the banking industry. According to that report, they are claiming Kendrick and the Diamondbacks ownership group "acted unlawfully when it told them either to increase their investment in the team to at least a one-percent stake of ownership or sell each of their 'ownership units' back to the team at a price of $60 per unit. Arizona Diamondbacks principal owner Ken Kendrick sent former Arizona attorney general Grant Woods a threatening and aggressive email June 19 before Woods was fired from the Phoenix law firm . Later that year, Colangelo and Garagiola hired Buck Showalter as the club's first manager. He and his wife, Randy, have long been conservative political activists. The same is true of Carlisle Investments, whose principal is Charles Carlisle. But the franchise did succeed in getting a handle on its salary situation, and from about 2005 it has ranked near the bottom of the league in payroll most years. Arizona Diamondbacks owner Ken Kendrick wants minority owners who have less than one percent stake in the team to raise their stakes or part ways with the organization. In short, it started out as a business that specialized in data processing, but went on to become something much more, as shown by the fact that its latter incarnation specialized in building education platforms for institutes of higher education. Weber is a retired minor league pitcher who is now president and CEO of ProCuro LLC/BCRx Inc. pic.twitter.com/SWoG5wrsRa, Alek Thomas hits an RBI double down the left-field line to put the D-backs on the board in the top of the 3rd inning, Corbin Carroll lines a triple to right-center field, showing off his speed in the top of the 5th inning, Alek Thomas hits a bloop single to center field and two runs score, cutting the D-backs' deficit to 5-3 in the top of the 7th inning, Emmanuel Rivera ropes a double down the left-field line and two runs score, tying the game at 5 in the top of the 7th inning, Jake McCarthy sprints to the right-field corner and leaps into the wall to make an impressive catch for the first out in the 2nd inning, Ryne Nelson fans J.D. Alfredo Molina, Jim Weber, and Carlise Investments are suing Kendrick over his buy up or be bought out ultimatum, which started in January. During the 1960s suburban shopping centers replaced downtown Phoenix as the regions retail center. If you buy something from an SB Nation link, Vox Media may earn a commission. Access to restricted areas in the ballpark, priority seating for games and exclusive meetups with players are among common perks. Many aspire to buy a professional sports team and call the shots. Report: Diamondbacks Owner Sent Threatening Email to Former Arizona AG After Criticism Nick Selbe Jul 22, 2021 After former Arizona attorney general Grant Woods criticized him on Twitter,. As of 2016, 15 of the 30 major-league teams belonged to the geographically compact (every team but one is in Maricopa County) and virtually rainout-free Cactus League.3. A trio of Diamondbacks limited partners are taking on the principal owner of the club, Ken Kendrick. Kendrick, 77 and a former banking executive, first became a part-owner of the Diamondbacks when the team was founded in 1995. Molina, a jeweler by trade, is chairman and CEO of Molina Fine Jewelers. 17 County Close to Deal on Ballpark; Arizona Republic, January 9, 1994, A1; David Schwartz and Eric Miller, Negotiators Strike Deal on Big-League Ballpark, Arizona Republic, January 15, 1994, A1; Decision Cost Jim Bruner His Dream of Serving as U.S. Congressman.. A trio of Diamondbacks minority owners have filed a lawsuit against the franchise's managing general partner Ken Kendrick, according to a report from Zach Buchanan of The Athletic. By the end of the 2004 season, the club owed more than a quarter of a billion dollars in deferred salaries.26. Rooser is a new startup in the seafood industry. Colangelo persuaded the other partners in Arizona Baseball Inc. to call the team the Arizona Diamondbacks rather than the Phoenix Diamondbacks to cultivate a statewide sense of pride and ownership. In April 1987 the city agreed to secure $150 million in bonding to build a 70,000-seat domed stadium on a 66-acre parcel of land in the southern section of downtown Phoenix. 9 prospect Drey Jameson strikes out two batters in two hitless innings during his spring outing against the Giants D-backs Insider Group Tickets Private Suites Special Events Caesars Sportsbook at Chase Field Carson Kelly's solo home run Under Kendricks leadership, the Diamondbacks have enjoyed significantly less success on the field. He emphasized the booming population of metropolitan Phoenix, the regions history of enthusiastic support for collegiate, spring-training, and Fall League baseball, and his history of managerial success with the Suns.19 A few days later the owners awarded Arizona Baseball Inc. an expansion franchise. As reported by Zach Buchanan of The Athletic, three Diamondbacks minority owners are suing general . If it so wishes, a team can have dozens of minority stake owners. 19 Bob McManaman, Colangelo Winds Up to Make Big Pitch, Arizona Republic, February 19, 1994, A1, A20. Accessed August 14, 2016: http://azcentral.com/story/news/local/phoenix/2016/08/08/maricopa-county-rejects-most-diamondbacks-request-65-million-chase-field-upgrades/88279408/. This type of petition captures the essence of the lawsuit. Its clear that Kendrick wants the three plaintiffs, and other partners with very small stakes, out of the Diamondbacks partnership. 3 Rick Hummel, Cactus League Is Coming on Strong, St. Louis Post-Dispatch, March 7, 2010, C1; Ron Fimrite, The Selling of Spring, Sports Illustrated, March 27, 1989, 58-61. The impending departure, which threatened the existence of the Cactus League, provoked immediate action from local political leaders, including US Senator John McCain, Governor Rose Mofford, and Maricopa County Supervisor Jim Bruner, who later played a major role in the arrival of the Diamondbacks in Arizona. Given MLBs interest in seeing this litigation resolve without being implicated, the league might urge Kendrick to find a solution. 13 David Schwartz and Eric Miller, County Close to Deal on Ballpark, Arizona Republic, January 9, 1994, A1; Frank Fitzpatrick, Stadium Issues Can Explode: Take Phoenix, Philadelphia Inquirer, January 13, 1999, E1; Decision Cost Jim Bruner His Dream of Serving as U.S. Congressman; 14 Decision Cost Jim Bruner His Dream of Serving as U.S. Congressman., 15 County Close to Deal on Ballpark. Decision Cost Jim Bruner His Dream of Serving as U.S. Congressman.. Michael McCann is SIs Legal Analyst. Martin Stone, the owner of the Phoenix Firebirds, the San Francisco Giants Triple-A affiliate, was the driving force behind the push. He became part- owner with the team's inception in 1995. Three minority owners of the Diamondbacks claim that the club and managing general partner Ken Kendrick is illegally trying to force them to either increase their investment in the team or relinquish their stakes at a price the minority owners say is unfairly discounted, according to a lawsuit filed Tuesday in Maricopa County Superior Court. A slightly more achievable goal, at least among the very affluent, is to buy a minority stake in a team. But the status of being an owner still attracts. Colangelo transformed the Suns into one of professional basketballs best managed and most consistently successful franchises. As a result, Kendrick is a figure of some note in both the MLB and beyond. The three plaintiffs believe that Kendrick is effectively forcing them to sell their stakes and at below-market value. That netted him the equivalent of a .5% interest in the partnership. They practice in Phoenix at the law firm Jaburg Wilk. Like many of his predecessors in New York, the intense Showalter butted heads frequently with the clubs domineering owner, George Steinbrenner. 2 Ibid. Taken together, these claims assert that Kendrick, as the general partner of the partnership, has operated in bad faith by imposing new requirements on limited partners ownership. 2. The company helps connect suppliers and seafood buyers throughout Europe. 2023 ABG-SI LLC. Kendrick is interesting in that it has two potential meanings in two languages. Datatel no longer exists in the present, seeing as how it combined with a competitor to form Elucian in 2012. Molina, Webster and Carlisle Investments seek a declaration that Kendricks letter is of no force or effect and that Kendrick cant legally force them to increase their investment or sell their existing share. Cohen speculates that Kendricks potential motive is to consolidate and increase the stakes of the remaining owners who werent bought out. It is interesting to note that Kendrick was born in a place called Princeton, which can be found in West Virginia. The owners Jim Weber, Alfred Molina and. As such, he is responsible for running the day-to-day operations of the team as a whole. 6 Robert Barrett, Stadium Fails, Goddard Wins, Arizona Republic, October 4, 1989, A1. Kendrick is reportedly waiting until after the Angels' sale is finalized to further explore the possibility of selling the minority stake. 5 Martin Van Der Werf, Martin Stone, Arizona Republic, March 12, 1995, BB2; Stadium Developer Quits Deal; Martin Stone Quits Pact for Dome; Plan in Peril; Agreement Reached on Stadium.. In October 1989, nearly 60 percent of Phoenix voters rejected a ballot initiative that would have allowed the issuance of $100 million of the previously authorized bonds for a domed ballpark. section: | slug: three-diamondbacks-minority-owners-file-lawsuit-over-dispute-with-team-owner-ken-kendrick | sport: baseball | route: article_single.us | Colangelo later said that taking the lead in the baseball expansion effort fulfilled his desire to play a more prominent role in increasing the national profile of the Valley of the Sun. Veeck persuaded New York Giants owner Horace Stoneham to join the Indians in Arizona.