Courtesy of GreenBayPressGazette.com:
The Green Bay Blizzard indoor football team has until Oct. 10 to find new investors or the 6-year-old franchise likely will fold, according to Blizzard head coach and part owner Bob Landsee, who made the announcement at a news conference Wednesday at the Resch Center.
Questions began to surround the team after Green Bay was not named as part of the new Arena Football 1 league, which was unveiled on Monday and contains a number of teams from the Blizzard’s former league, arenafootball2.
The Blizzard hasn’t submitted an application for inclusion into the AF1 because of questions surrounding the team’s investors.
“The fact of the matter is, Green Bay, we’re in search of investors right now,” Landsee said. “Financially, this company has struggled. From when we bought this team to where it is now, we’re in a much better situation, but the partnerships that own this team have decided they no longer want to put money into it in the sense of risking any more capital.”
Landsee wouldn’t go into specifics about which investors want to pull out, but said he is in talks with two new potential investors.
The ownership of the Blizzard currently is spread across three parties with an investment group from Wausau, a group from Green Bay (including former Green Bay Packers player and Blizzard coach Brian Noble and Landsee), and also former NFL quarterback Dave Krieg. Landsee said the groups from Wausau and Green Bay each own 45 percent of the franchise, while Krieg owns the last 10 percent.
If the team finds financial backing, Landsee said the Blizzard would become members of the new Arena Football 1 next season. The new league will be divided into large market and small market teams.
The deadline to join the new league is Oct. 9, but Landsee said if financial progress is made that date is flexible. If a resolution is not reached, the Blizzard will not join any other indoor football leagues, such as the Indoor Football League or the Continental Indoor Football League.
If things work out and the Blizzard joins Arena Football 1, Landsee said the team would be a member of the second, smaller tier and would serve as a development team to one of the top tier teams, possibly Chicago or Milwaukee.
Regardless of Green Bay’s future, Landsee expressed interest in coaching at the top-tier level of AF1.
The Blizzard has played in the af2 since the team’s inception in 2003 and has been among the league’s top teams in attendance since 2006, averaging around 6,000 fans per game.
Since Landsee took over the team in 2005, Green Bay has made five straight playoff appearances, including a runner-up finish in the ArenaCup championship game in 2006.
Team officials said if the team folds, money has been set aside to refund individuals who have purchased season tickets for next year.