The Gastonia Honey Hunters, a minor league team in the Atlantic League of Professional Baseball (ALPB), has just filed for bankruptcy.
Established in 2021 by NC Gas House Gang LLC, the team won the Atlantic League South Division Championship in 2023, and they’ve been seeing a steady increase in revenue from $2.03 million in 2021 to $2.83 million in 2022, however, in spite of their success, they’ve continued to see mounting debts and unpaid bills.
They now owe the City of Gastonia for naming rights and utilities and have accumulated debts totaling approximately $4.08 million. The largest debt is to BKK Sports, alongside substantial amounts owed to the Atlantic League, the North Carolina Department of Revenue, and the Internal Revenue Service.
This financial situation has led to their bankruptcy filing and exit from the Atlantic League, highlighting the difficulties new sports teams can face balancing on-field success with financial sustainability.