The National Lacrosse League has announced that the league's Board of Governors has granted approval for the sale of the Rochester Knighthawks franchise to new majority owner Curt Styres. The approval for the sale was granted by the league's Board of Governors earlier today.
The transaction price was a record $5.575 Million (US), marking the highest price for the sale of a franchise in the league's history. As recently as 1999, the league sold franchises for $250,000.
Styres, a businessman from Ohsweken, Ontario and President of Arrow Express Sports, is believed to be the first Native North American to own a major league professional sports franchise. The game of lacrosse was created and first played by Native North Americans in the 17th century.
"As the premier professional league in the sport of lacrosse, the National Lacrosse League is thrilled and honored to welcome Curt Styres as the new owner of the Rochester Knighthawks", said NLL Commissioner Jim Jennings. "The history of our sport is very rich in the culture and traditions of the Native North American people, and it gives us great pride to have the first Native North American owner of a major pro sports franchise here in the NLL. Curt is a great man and a very successful businessman, and we are excited to have him as an owner in our league."
The approval granted by the Board of Governors for the sale is conditional upon the franchise securing a new lease with the city of Rochester at Blue Cross Arena. The Knighthawks have played their home games at Blue Cross Arena since joining the league as an expansion franchise in 1995.
Posted: Wed May 28, 2008 10:29 pm