DAVID MURPHY, St. Pete Times Staff Writer
December 7, 2007
After years of trying, Woody Kern has finally found a buyer for the
Tampa Bay Storm. In a deal that will be announced at a press
conference Thursday, the Texas businessman has agreed to sell the
team, apparently to Tampa surgeon Dr. Robert Nucci.
Larry Carr, whose Tampa-based firm has handled the sale, confirmed
Friday evening that a deal is "in the mix," but declined to comment
further, citing a confidentiality agreement.
"We're under strict orders from both people not to say anything,"
Carr said.
The Storm had hoped to keep the deal quiet until Thursday, when Kern,
Nucci and Arena Football League commissioner David Baker are all
expected to be in town for a press conference at the St. Pete Times
Forum.
Though Nucci will own a controlling stake in the team, there is a
chance Kern will maintain a minority stake.
Kern had been asking $20 million for the franchise. The exact sell
price is believed to be $18.9 million, which would be an AFL record
for an existing franchise. Nucci could not be reached for comment. An
employee at his office said he is on vacation and will not be in town
until next week.
Kern bought the franchise in 1994 for a reported $850,000, but has
racked up significant losses in the 13 seasons he has owned the team.
In May, he told the Times that if he sold the team for his asking
price, he'd turn a slight profit, despite losses he estimated at
between $400,000 and $700,000 a year.