ST. LOUIS (AP) - The St. Louis Cardinals drop plans to purchase their top minor-league affiliate in Memphis, blaming the sour economy.
The Cardinals renewed a 4-year agreement in September keeping the Redbirds as the AAA affiliate.
At the same time, they announced plans to buy the team from the not-for-profit Memphis Redbirds Baseball Foundation. The foundation was informed in a letter late last month that the deal was off.
Redbirds president of business operations Bill Harter says the Cardinals cited the economic downturn and uncertainties about how the economy will impact baseball.
Cardinals general manager John Mozeliak said the club had done its due diligence, and felt it was not the right time to do the deal.
Harter calls the decision disappointing but says it does not affect the relationship between the Redbirds and the Cardinals.