Zodiac to Be Purchased Today by Venture Capital Group

The Orange County Zodiac A-League soccer team will be purchased today by Peacock Financial, a venture capital firm in Temecula, according to Rick Brown, who was team president when the Zodiac ceased operations on New Year’s Eve. The A-League assumed control of the franchise last week when former owner John Frankhouse defaulted on a $50,000 letter of credit.

Brown was negotiating mainly with Peacock Financial and Tim Buckley, who owns a floor-covering company in Yorba Linda and two NASCAR racing teams. Buckley, who has four children involved in soccer, said he came close to purchasing the Zodiac, which went 17-11 last year and lost in the first round of the playoffs.

“We’ve been watching the Zodiac for a year and we liked some of the things we saw with the A-League,” Buckley said. “Emotionally, it would have been an easy decision. But we’ve got a pretty full plate, and I just don’t have the time necessary to do it the right way.”

Brown said he expects to complete the deal with Peacock Financial today. Expansion A-League franchises are valued at $200,000, but Brown said Peacock Financial will spend more than that to purchase the Zodiac. Tim Holt, the A-League’s president, said he had no comment on the matter.

Peacock Financial is already heavily involved in the A-League as part owner of the San Diego Flash and majority owner of the San Francisco Bay Seals. Brown said he will be the team’s new president.

“It’s like my baby,” Brown said. “I didn’t want someone else to come in a reap the benefits of all my hard work.”

Brown said the club will continue to play its games at Santa Ana Stadium. He expects the new owners to keep the coaching staff together, but he said that the club might change its name.