Orange County’s professional tennis team is up for sale.
The Orange County Breakers—owned by Canadian technology and media entrepreneur Lorne Abony—is projected to fetch a price in the low millions, akin to the valuation of most minor league baseball teams.
“Lorne just really feels like it’s time for a new ownership team to come in and take over,” Breakers General Manager Allen Hardison told the Business Journal.
The seller aims to find a local buyer that will keep World TeamTennis franchise at the 1,250-seat Newport Beach Tennis Club, where the Breakers nearly sold out all six home matches this year.
Season tickets at Breakers Stadium start at $210.
“The ties to Orange County have been incredible,” Hardison said. “It’s a perfect market for the team.”
The Breakers returned to OC this year after an unsuccessful two-year stint in central Texas as the Austin Aces, playing matches at different venues there.
Abony, who lives in the Austin area, cofounded FUN Technologies in 2001 and sold the Toronto-based online game developer in 2006 for $484 million to Liberty Media Corp. in Colorado.
He purchased the league-operated Breakers franchise in 2013 on undisclosed terms and relocated the franchise to OC in his first business venture here.
WTT owners typically are heavily involved in assembling their own teams, a process that will play out in Indian Wells in March, when the six-team league is scheduled to hold its annual draft.
Players sign a contract with the league rather than individual teams. Each team must post a certain annual financial sum to the league to maintain its position in the six team league.
The list of eligible players—often some of the top names in the sport—is sent to owners before the draft. Teams have the right to retain players on their current roster or make them eligible for the draft for the upcoming season, essentially putting them back on the market.
Among players who have worn the Breakers uniform over the years are stars such as Lindsay Davenport, Pete Sampras and Maria Sharapova.
The team is coached by Newport Beach resident and former world doubles No. 1 Rick Leach.
Revenue comes from ticket sales, in-game concessions and merchandising, sponsorships and broadcasting deals. A typical team will break even in a good year, similar to the financial situation facing a lot of owners of major sports franchises these days.
The Breakers’ local sponsors include Sterling BMW, Orange Coast Magazine, Discover Orange County, Newport Orthopedic Institute and Hoag Orthopedic Institute.
League sponsors include Geico, the Wilson sporting goods brand, and drug manufacturer Mylan, which has its name attached to the championship trophy.
ESPN Tennis Channels
The Mylan finals were broadcasted nationally on ESPN2. Two Breakers home games in the three-week season were broadcast on ESPN3. Five additional games, including two home tilts, aired on the Tennis Channel.
This season concluded on Aug. 26, with the Breakers losing the championship to the San Diego Aviators.
Each team is comprised of two men, two women and a coach. Team matches consist of five sets—one set each of men’s singles, women’s singles, men’s doubles, women’s doubles and mixed doubles.
The first team to reach five games wins each set. One point is awarded for each game won, and a nine-point tiebreaker is played if a set reaches four all.
The Breakers, which won the 2004 Mylan WTT championship, called Newport Beach home from 2003 to 2011. The club played two seasons at the Bren Events Center at the University of California-Irvine and was once called the Newport Beach Dukes.
The WTT was established in the early 1970s by Billie Jean King and her former husband, Larry King. Versions of the league have sputtered in and out of existence a few times during its 42-year run, showcasing top talent in the sport throughout its bumpy history.
A few notable sports team owners got their start in the business through WTT, including Los Angeles Lakers legend Jerry Buss and New England Patriots owner Bob Kraft.
