New ownership group looks to take Waterloo Region's sports teams to the next level

New owner for the Kitchener Panthers The Kitchener Panthers have a new owner and they should be familiar to sports fans. Spencer Turcotte explains.

A new sports ownership group is bringing basketball and baseball together in Waterloo Region.

At the KW Titans game on Saturday, it was announced that the team would now operate under the newly formed Waterloo Region Sports and Entertainment, which also purchased the Intercounty Baseball League’s Kitchener Panthers.

The move is being looked at as a slam dunk by Kitchener’s mayor.

“This is going to give sports fans in the community professional sports to come and enjoy in our community year-round,” Berry Vrbanovic said.

So, who is behind this new group and acquisition?

CEO and co-owner of the Titans basketball team, David Schooley and his wife Katie, purchased the Panthers when they went on the market in August.

“We’re so excited about seeing where we can take the Panthers in the next 105 years,” said Schooley.

He’s not the only one.

Schooley has partnered with a local business family – Sam, Naseem and Shanif Hirani.

“It’s been a tough couple of years, but I think we can bring them back and be able to put a competitive team on the field,” said Shanif Hirani.

Schooley felt the ownership group made sense business-wise, because it allows for efficiencies in sales and sponsorships.

“As the Titans season finishes, the Panthers season will just be starting. So we’ll be running the sports organization almost 12 months straight,” Schooley said.

Bill Pegg, the chair of the Panthers’ board of directors, said Schooley and his team stood out amongst the at least 20 other interested buyers. They made it clear they want to maintain the team’s 100-year identity and have the money to keep up with other teams around the league.

“The city has a responsibility here,” Pegg explained. “We said when a new owner comes in here and is spending a lot of money to buy this team, they’re going to be coming to you guys, the city and say, ‘OK, let’s talk about the park.’”

Jack Couch Park is in need of upgrades, but it’s unclear what the improvement plan will include. With more administrative muscle than ever before, they feel they’ve covered their bases and will deliver an attractive product to the fans.

The hard work is already well underway.

“The new owners are excited,” said Pegg, as his phone notifications sounded off. “My phone is going crazy.”

As for whether Waterloo Region Sports and Entertainment will follow in the footsteps of Maple Leaf Sports Entertainment and add a hockey team to the roster – it’s not being ruled out.

“Never say never,” said Hirani. “But we’ll keep it basketball and baseball for now.”