MONTGOMERY, Ala. (AP) — A minor league baseball team in Alabama is being sold.

The Montgomery Biscuits will be sold to a new ownership group headed by boxing promoter-television producer Lou DiBella, the Montgomery Advertiser reported. Team owner Sherrie Meyers and city official made the announcement Thursday at Riverwalk Stadium.

DiBella spends a lot of time in Alabama as promoter for boxer Deontay Wilder. DiBella said he visited Montgomery last season after hearing the team was for sale.

DiBella said another member of the ownership group, Todd Parnell, was “really stoked” about the potential of the team after Parnell was sent to Montgomery.

“I took a ride one day last season unannounced and walked around, went into the ballpark,” said DiBella. “The park is charming. The city is a terrific little city that is growing and booming and it just appealed to me.”

The sale is private and the selling amount has not been released. The sale will be finalized after an approval process that DiBella estimated would take about a month.

“Minor league baseball is about fun, and it’s about relationships,” DiBella said. “Our goal is to get everybody working with us and for us to have fun, and we want that to trickle down to everybody who walks into the ballpark, and we want to be an impactful, important part of the community.”

DiBella will not disclose the list of owners until the deal is finalized. The majority of the Biscuit ownership group is members of the ownership group for another minor league team, the Richmond (Virginia) Flying Squirrels.

Myers said during a news conference she had turned down a sale of the team as recently as three years ago. Myers and other Biscuits investors wanted to find a community-oriented group.

“We didn’t want to leave until we found the right group and I think we have,” Myers said. “The group is pretty impressive. Their resumes really stand out. … I think this is an exciting next chapter for the River Region.”

The Biscuits came to Montgomery in 2004 as the Double-A affiliate of the then-Tampa Bay Devil Rays. Myers was among those selected to start the team. The stadium was built with a $32 million bond issued by Montgomery funded by a 2.5 percent increase in lodging tax and leasing revenue from the Biscuits.