Sinon Corporation to sell struggling baseball team
The China Post news staff
October 23, 2012, 12:01 am TWN
The China Post news staff--Sinon Corportaion (興農), the owner of Chinese Professional Baseball League's (中華職棒) Sinon Bulls, announced yesterday after a board meeting that it has decided to sell its baseball team due to substantial financial losses sustained over the past few years.
The Taichung-based firm said that it is still waiting for prospective buyers, but that its baseball team will continue to play in the league as scheduled.
Fans of the Sinon Bulls were not surprised when they heard the news.
Financial losses of the baseball team have so far cost its parent company approximately NT$90 million this year, according to local reports. The lackluster performance of the Sinon Bulls over the past two years also caused ticket sales to dive drastically. The team is currently on the bottom of the league's table.
Sinon Corporation yesterday announced its decision to sell its baseball team through a statement released on the Sinon Bull's official website.
The team, formerly known as Jungo Bears, was purchased by Sinon Corporation from Jungo Corporation in the mid '90s. The Sinon Bulls won their second consecutive Taiwan Series championship in 2005 by beating the Macoto Cobras (誠泰COBRAS), after having defeated the Uni-President Lions (統一獅) the previous year.