Virginia Beach Professional Baseball, LLC
Virginia Beach Professional Baseball (VBPB) is a Limited Liability Corporation (LLC) based in Virginia Beach, VA. Over the past 4 years the company has successfully master planned and gained the required government approvals & participation, for the ownership and operation of a Atlantic League of Independent Baseball Franchise (the Virginia Beach Neptunes) and Baseball/Softball Tournament Complex in Virginia Beach, VA.
VBPB has a strong background in professional baseball operations for both Minor League Franchises and Tournament Complexes. VBPB has assembled a team that has operated profitable and highly successful baseball franchises and tournament operations.
VBPB is developing the new Stadium, to be known as Wheeler Field and 13 field tournament complex through a private equity offering ($4.5m), and a private debt placement ($32m) to fund development.
Approved Government Participation and Lease Terms:
140 acre land lease for 30 years at $1/year,
Local government incremental tax redirection,
State government incremental tax redirection and
Infrastructure and roadway improvements provided by municipality.
Virginia Beach, VA is the largest US city to not have had a professional baseball franchise. The Virginia Beach-‐-‐-‐Norfolk-‐-‐-‐Chesapeake MSA is the 37th largest in the US, and Virginia Beach was ranked in the nation’s top 100 for largest increases in household income in the 2000’s.
VBPB’S INVESTOR POOL AND KEYS TO THE MARKET
To date, VBPB is made up of 23 investors. 19 of them are from the immediate area and posses very successful track records. Local investors only enhance what a minor league team is all about….The Community.
They understand the synergy between a home town team, stadium and a tournament complex that will attract thousands from the eastern seaboard.
Virginia Beach, VA is the perfect storm of a market.
1. over 2,000,000 people within 45 miles
2. an incredible active and retired military presence
3. miles of beautiful oceanfront, attracting over 30,000 visitors each week from June-September
4. very mild weather; allowing us to host tournaments and numerous events from March thru November