Last updated on July 3rd, 2019 at 07:17 pm
Jim Lindenberg announced that he has sold the Milwaukee Wave Professional Indoor Soccer Team and the team’s Wave of Hope Foundation to Sue Black, who was named president and chief executive officer of the team in February.
Lindenberg has owned the Milwaukee Wave since 2009 when he took over for Charlie Krause. Lindenberg said he decided to step down from the team after Black approached him about taking over ownership last month.
Lindenberg introduced Black as the new team owner at a press conference this morning.
“(Black’s) network in the community is very, very strong,” Lindenberg said. “She’s gotten results in the past, and she’s got a lot, a lot of energy. So I think she’s the perfect candidate to lead this to another level, another direction.”
Lindenberg said Black’s energy was a particular factor in his decision to name her the new owner.
“(With) the passion that she had to be in this position, she convinced me that I should hand it over to her,” Lindenberg said.
Black became the official owner of the team Friday. Lindenberg would not disclose the financial terms of the transaction.
“I think it’s going to be a really fun ride,” Black said. “We’re going to ride this wave to a whole new level.”
Moving forward, the new owner will focus on giving Milwaukee Wave team players the recognition they deserve for both their accomplishments on the field and their philanthropy in the community.
“As much as I’m excited about the team and the Wave, the Wave of Hope and giving back – it’s really going to be motivating,” Black said.
Lindenberg said he is not certain of his next career step but said he will remain in Milwaukee. He will continue consulting Black to ensure the transition is completed smoothly.
Prior to the Milwaukee Wave, Lindenberg owned wire, cable and tubing manufacturing company World Class Wire & Cable from 1994 to 2008. He currently runs JML Holdings, a Delafield-based commercial and residential property broker, and Lindy Enterprises, a business consulting firm also located in Delafield.
The Milwaukee Wave has been coached by Keith Tozer for the past 21 years. The team represents the longest-running soccer franchise in North America.
Black is the former director of the Milwaukee County Parks.