Wanna buy the Comets?

Mayor Bill White and County Judge Ed Emmett have sent out a letter to help find a buyer for the Houston Comets.

A copy of the letter received by the Chronicle, dated Aug. 11, states White and Emmett are working with the WNBA to find new ownership for the team. The deadline to find local ownership is November.

The letter places the value of the franchise at $10 million.

The WNBA has taken control of the Comets for the remainder of the season, and the league is working with White and Emmett to keep the franchise in town. A WNBA official said all team operations are going through the WNBA and not Hilton Koch, who has owned the team since October 2006.

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However, the letter to potential investors says Koch "has not been able to devote the resources needed to maintain the Comets' tradition of success."

Koch hasn't spoken about the change in ownership. He called a news conference for Wednesday but canceled it Tuesday night.

I wish they'd gone ahead and posted the actual letter, but oh well. This sure sounds like owner Koch is having financial difficulties, doesn't it? Maybe it's because the Comets have been a money sieve for him, and maybe he's just having a cash flow problem. Either way, it's never a good thing when the league has to take over a team's operations. I hope they're successful at finding a buyer quickly, and I hope said person is on more solid financial ground.

Posted by Charles Kuffner on August 14, 2008 to Other sports