Milwaukee Wave Sold to Sue Black

So I guess the doom and gloomers were a bit off...can't wait to see them in action in 2013-2014!!!!

 

FOR IMMEDIATE RELEASE
MILWAUKEE WAVE BEGINS A NEW ERA

Jim Lindenberg has sold the Milwaukee Wave Professional Indoor Soccer Team and the Wave of Hope (501C) to President and CEO Sue Black in a confidential agreement.

Sue had so much community support and belief in this team during the end of the season that she approached Lindenberg to take over Ownership.

Jim states, “It was very easy to complete the transaction with President/CEO Sue Black and the United Soccer League. I can’t think of anyone better to continue to lead this very proud and successful franchise. Sue has many connections in Wisconsin, is a very hard worker, and has a very successful track record. The future of the Milwaukee Wave looks promising.”

Sue said, “This team is all about positive energy. The Wave is entwined in Wisconsin and has a tradition of making such an impact in so many facets. The real passion is that I will be able to give back to the community that I love.”

Jim Lindenberg purchased the Milwaukee Wave in 2009 from Charlie Krause. He and the Wave have had a very successful run. Season tickets, corporate sponsorships, merchandise sales, game attendance, and school day attendance have all increased every single year.

The Milwaukee Wave is the longest running soccer franchise in North America and has a great winning tradition. The team is led by Coach Keith Tozer who has been with the Wave for 21 years and has received 9 MISL Coach of the Year Honors. Coach Tozer states, “I want to thank Jim. He proved that dedication, hard work, and commitment can produce success both on the field and off. We wish him and his family much success and best wishes. In the short period of time working with Sue as President/CEO it became very clear and obvious of her remarkable talents as a very smart business woman. The announcement is a major milestone for the Wave for so many reasons and I look forward to helping Sue in any way I can to help the Future of the Wave.”

Black sums it up, “It has always been about my hometown and will continue to be- GO WAVE.”

 

Kenn, any idea what is (was) the Wave of Hope (501C3) non-profit???

 

The Wave of Hope is the charitable arm of the Milwaukee Wave, they support a ton of local charities in the area including but not limited to Children's Hospital, Make a Wish, MACC Fund, Ronald McDonald house and many others. Here's the organizations website for more info:

http://milwaukeewaveofhope.org/

 

Thanks so much for the information, yes I found them on-line. I'll keep them on my list for a possible future donation...

http://www.guidestar.org/FinDocuments/2011/271/137/2011-271137486-08d3521e-Z.pdf

 

Maybe more team in the Misl should go under a (501C ) since no one is making money this is a great way to to keep teams around .

 

You know, non-profit status isn't a guarantee you get to stay operating as an actual business concern. You get that, right?

It's not like tons of 501(c) 3 corporations (which is just an IRS designation, not an absolution from, having to, you know, actually pay your own way) don't go out of business every year in this country.

IIRC, the Utah Freezz actually was a non-profit. Have you gone to any of their games lately?

 

And the Wave of Hope is the charitable "arm" of the Wave not the whole team/organization itself
It is a seperarate entity so to speak. yes they work hand in hand or on the same tree but different branches. The Milwaukee Wave is not a 501c3 team. As I understand it.

 

Nor would their survival be any more or less likely if they were.

 

I may be way off on this, and if I am please feel free to correct me, but wasn't the Wave of Hope originally the former Mrs. Lindenberg's creation? I was led to believe that he took it over after their split, but again, please correct me if I'm wrong on that as I may well be.

 

Supposedly founded in 2010, so it may very well have been.

 

I usually retire from the board following the season but will chime in on this one:

Charlie Krause created the Wave of Kindness. When he sold the Wave he took the Wave of Kindness with him and still runs it today. The Wave of Hope was formed at the beginning of the Lindenberg era as a company replacement for the Wave of Kindness. So, in reality Charlie came up with the idea for the Wave charitable arm.

 

Ms. Black becomes - I think, I'd have to check - the seventh female pro indoor soccer team owner?

Elizabeth Robbie owned the Minnesota (nee Ft. Lauderdale) Strikers. Kim Cook and her family owned the Indiana Twisters their second year. It's possible Marian Ilitch was co-owner (or at least listed as such) of the Detroit Rockers and Gretchen Williams and Linda Carter were co-owners of the Sidekicks with their husbands. Shirley and Randy Johnson owned the original Wings in their final years.

I'm in the process of compiling an all-time list of team owners (coincidentally), but those are the ones off the top of my head. Any others?

 

They did that in 2001, their second year. The joke among fans around the WISL then was that they were the indoor soccer team that was intentionally not for profit.

 

From the Sports Business Daily:

The WISL UT Freezz have "abandoned traditional sports business theory" and plan to operate as a 501(c)(3) nonprofit organization, according to Brett Prettyman of the SALT LAKE TRIBUNE, who reports the Freezz "will become only the second sports team in the nation run as a charitable organization." The newly-created Freezz Foundation will have a board of trustees instead of owners and its "financial records are public." Phil Roberts, an original owner of the Freezz, said, "We realized that if we were going to stay a for-profit business that we would have to raise ticket prices and have to depend heavily on advertising and sponsorship."

("Like any other team would," I would add, parenthetically.)

We would have ended up pricing our game right out of the market and eliminating the purpose that we brought the team here to serve." Prettyman writes that the "change did come with a cost." Roberts said that the team's budget last year was around $900,000, while this year's budget is around $750,000. Roberts: "The guys are underpaid. Our players are sacrificing a lot, they know it and we know it, and we appreciate it." Prettyman reports that the team's "plan is to find at least" 12 corporate sponsors, one for each home game. For $10,000, a sponsor is given 800 tickets to be allocated to a charity of the sponsor's choice or one chosen by the team. Because the money "is given to a charitable organization, it can be included as a charitable contribution." Sponsors also would receive a 30-second spot on the video board in the E Center, two dasherboards ads and an announcement during the game. There are also $5,000 and $2,500 sponsorship opportunities.

And it didn't work. Because $750,000 is still $750,000.

 

well you can count the wave in for next year, at least. i'm not sure if black has the pockets lindenburg has, but she seems sincere, and the wave is an institution in milwaukee. ok we're not the brewrs bucks or admirals, but they had a very good season this year.

 

I'd have to check first with Gamerazpr if it counts, but Marian Bowers owns the current Tacoma Stars.

 

If Lindenberg sold his company in 2008 for $62 million and Sue Black's last reported salary was $140,000 a year from the city, I don't think she has his pockets unless she's been really frugal or a shrewd investor.

But, regardless, the Wave isn't a question mark anymore, and that's a positive.

 

This was my first thought/concern as well. Lindenberg seemed much more able to sustain the expected losses that come with running a MISL team. Will Sue Black be able to do the same? And if so, for how long?

 

I believe in their marketing materials they were trying to get $50,000 a game for game sponsorships and I believe they got none.

Also I believe Phil Roberts, Tracy Jones, and Dave Elmore were supposed to each put up a certain amount of money and only Jones did. I fact the team almost folded two weeks after I got there before the 2001 season.

We had a staff of four people and none of us had any experience. Jared Youngman went from a Grizzlies intern to our Director of Ticket Sales (although today he is the Grizzlies Vice President).

Then the league made things worse by hiring Chris Connolly (professional grifter) to take over as team President midseason.

When the team folded I got a raise by going on unemployment.

I would still love to do it all over again, but I'm 12 years older and have a wife and son.

 

yes the question of how long she will be able to sustain losses, is in question.lindenburg was owner for 4 years, and lost money every year. i'm not sure if the wave has ever turned a profit, but at least its been able to operate for 30 years. at least we know there will be another season in milwaukee. hopefully we can have 10 teams next year

 

And, yet, he said they are in better financial shape than ever.

 

I doubt we have 10 teams next season....but maybe 7 or 8.

 

I might be talking out of my rear end, but Sue Black doesn't even have a job right now does she? I mean she worked for the Wave, but she can't pay herself anymore unless the team makes money which has never happened.