GASTONIA, N.C. — The company behind the Gastonia Honey Hunters baseball team has filed for bankruptcy, the latest turn of events in the team's recent saga tied to financial woes.
An affidavit for Chapter 11 bankruptcy was filed December 1 by Brandon Bellamy, the team owner and manager of NC Gas House Gang LLC. The filing in Maryland's bankruptcy court admits that NC Gas House Gang did not file federal tax returns in 2021 or 2022, and a balance sheet in the filing reviewed by WCNC Charlotte shows the company has about $4.8 million in total assets.
However, the balance sheet shows NC Gas House Gang also had liabilities and equity equaling the assets. Additionally, a profit and loss statement reveals the company is in the negative by almost $4 million based on losses since 2021.
Signs of financial trouble for the team were first reported in July 2023, when Gaston County officials said the team was late on payments for emergency services personnel. The team owed the county $22,000 and the city of Gastonia roughly $88,000. The team did make progress on repayments later in the summer.
However, the financial issues saw the Honey Hunters booted from the Atlantic League of Professional Baseball in late November, though the league intends to field a Gastonia team again in 2024. A lawsuit filed by the city claimed the team defaulted on a loan from the league, owing $1.1 million. The suit also claims NC Gas House Gang failed to maintain the team's home stadium of CaroMont Health Park, which is owned by the city but leased by the Honey Hunters.
The city now seeks to void the agreement and force the Honey Hunters to leave the stadium.
WCNC Charlotte asked a representative of the company for comment on Tuesday but did not hear back by the end of the day.