The remaining partners in the Chattanooga Lookouts are seeking to buy out the share of John Woods, who was accused by the Securities and Exchange Commission of operating "a massive Ponzi scheme."
They are offering $1,875,684.
A filing in Federal Court says that is the amount of the capital contribution of Mr. Woods to the minor league baseball club.
The receiver who was appointed to handle the liquidation of the Woods assets is asking court permission to accept the offer.
Mr. Woods has resigned from his position with the Lookouts.