CORNWALL – Saying he has taken the team as far as can, Cornwall River Kings owner Brock Frost is selling the hockey club to someone inside the organization.
Darren Madden will become the majority owner and managing partner of the LNAH team.
Madden has been the team trainer, director of sales and director of merchandise.
He tells Cornwall Newswatch he will be the sole owner of the team (100 per cent stake) and financial terms are not being disclosed.
The new owner insists the team isn’t going anywhere. “The River Kings are here to stay in Cornwall,” said Madden.
Outgoing owner Brock Frost says the team is in a financially strong position but there is not much more he can do to help the club.
Frost says “absolutely nothing will change” and season ticket holders, sponsors and players will all have their interests honoured.
The ownership transfer still has to be vetted legally and must get league approval, possibly as early as December.
This is the fourth owner of the franchise in two years.
In the fall of 2013, Bernie Villeneuve announced he was giving up the team.
An ownership group, headed by David Small, picked up the team in the eleventh hour and carried it until May, 2014. The franchise was then turned over to the league before Brock Frost picked up the team in June, 2014.
“We will succeed,” Madden told Cornwall Newswatch.