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Portland Beavers to change hands
10/14/2010 4:00 PM ET
Portland Beavers owner Merritt Paulson issued the following statement on October 14, 2010, regarding ownership of the Portland Beavers.

"We have entered into an agreement to sell the Triple-A franchise to an ownership group led by Jeff Moorad, owner of the San Diego Padres. The deal is expected to close in December of this year, and is conditional on baseball's approval.

What this means is that, as expected, the Portland Beavers' move will not just be temporary. As I have expressed many times, moving the team from the Portland area represents a professional and personal disappointment for me. It was not the outcome we anticipated and expected. It remains my strong belief that, just as the Beavers returned to Portland in 2001 after being moved to Salt Lake City in the 1990s, Triple-A baseball will again return to Portland; only this time the return will be to a permanent, baseball-specific ballpark home, where the franchise can flourish and succeed. I remain committed to aiding in that effort as I can."