Thursday, January 31, 2008

Korea Sees 1st Foreign-Owned Baseball Team

The Korean Peninsula Baseball Organization have announced that a foreign investing house will take over a professional baseball game team.

The Unicorns under ownership of Hynix Semiconductor have got been perspiration it out lately after mounting fiscal problems threatened to stop their franchise.

Swooping in to deliver the ball baseball club is Centennial Investment, a U.S.-based steadfast that negotiated with the KBO over the W12 billion (US$1=W944) buyout.

The move gives Centennial not only baseball club ownership but also the right to utilize a bowl in western Seoul.

It's been a good bend of events for the Hyundai Unicorns as less than a hebdomad ago Korean telecom giant KT and other domestic companies showed involvement in the team, only to endorse down over sky-high takeover and direction costs.

Centennial spokesman Spike Lee Jang-suck said the company will suggest a concern theoretical account that's different from the seven other domestic ball clubs.

They trust that their sprinkling of charming dust will piece up the limping Unicorns, form up the direction to planetary criteria and better its hard cash flow.

Sports insiders are brimming with expectancy as Korea's first foreign-owned baseball game squad could convey the advanced attack necessary to fill up bowls with fans.

Arirang News

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