Comment 58122

By George (registered) | Posted January 26, 2011 at 11:05:25

Hmmm...Googling some more about the Carolina Railhawks, it seems that HTCFC Inc, (Hamilton Tiger-Cat Football Club) was a minority owner, Rather than Bob Young himself.

Just wondering, and I have no proof, but if the Carolina Railhawks were losing money, would such losses appear on the parent company's (Tiger-Cat) books?

Recent filings with the North Carolina Secretary of State’s office point to the impending sale and change in ownership of the Carolina RailHawks. On Dec. 30, 2010, current majority owner Selby Wellman filed two Articles of Dissolution with the N.C. Secretary of State that make clear a major reorganization is under way.

Last month, team president Brian Wellman confirmed online reports that current team owners were seeking to divest their stake in the club, and that Traffic Sports USA, the American subsidiary of a Brazilian sports management company, will likely acquire majority ownership.

One filing dissolves Triangle Professional Sports, L.L.C., aka Triangle Professional Soccer, L.L.C., a sport management company formed in 2005 by founding managing member Chris Economides. According to the Triangle Professional Sports’ 2010 Annual Report, the RailHawks’ members/owners were Wellman, Atlanta Silverbacks Holdings, L.L.C. (the corporate front for original minority owner Boris Jerkunica), HTCFC, Inc. (HTC standing for Hamilton Tiger-Cats, the Canadian Football League franchise owned by Red Hat founder Bob Young), and Singh Holdings, L.L.C. (managed by Dr. Paul Singh, a Cary physician).

http://www.indyweek.com/triangleoffense/...

Either way, this can't be good for Mr Young's Hamilton soccer aspirations can it? Especially with the uncertainty surrounding the league's status.

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