St. Louis, MO. – The Cardinals have fired the company originally pegged to find private investors for a new stadium.
The team dropped Washington-based Property Funding Group, citing unspecific concerns with some investors. That means Bank of America Securities will now try to find $275 million in private money to pay for the new park.
Cardinals president Mark Lamping says the move will not affect the timeline of the team's plans to replace 37-year-old Busch Stadium. He says the Cardinals still plan to close the deal in June, break ground the next month and open the new ballpark by the 2006 season. St. Louis has also been scheduled to host baseball's All-Star game that year.