Minority partner buys out owners of Olympic Athletic Club

After 42 years, Olympic Athletic Club owners James and Debera Riggle have been bought out by a silent partner.

James Riggle tells My Ballard that the sale was not by choice; their minority partner John Lowrance approached the Riggles with a buy/sell proposal in early June, and James says he and his wife were unable to come up with enough money to keep the club.

“We were forced out,” Riggle tells My Ballard. “It’s sad that someone can take us out after 42 years. I designed every square foot of that building.”

Lowrance became a minority partner in 2011, Riggle says, when the OAC added the Hotel Ballard development. He’s remained a silent partner until recently.

“If it hadn’t been for COVID, I could have come up with the money,” Riggle says, adding that the sudden change has hit his family hard.

“I love Ballard, it’s a great place. I’m glad to have done something that will remain an icon in the neighborhood, even if I’m not part of it anymore.”

The OAC remains closed, as it has been since March 15. My Ballard has reached out to the new owner, John Lowrance, for comment. We will update with any new information.


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Cap Anson
Member
Cap Anson

Turn it into an apartment!

Pork Pie
Member
Pork Pie

The “legacy” he bequeathed Ballard was that faux-Tuscan, tacky-ass Hotel Ballard on the historic stretch of Ballard Avenue, where it stands out like a wart. Karma, at last, for foisting that on us. Bye-bye, Jimmy!

terryj
Member
terryj

“for foisting that on us” who is US, dwad???

A Poopy
Member
A Poopy

I am on your shoe.

terryj
Member
terryj

it’s where you were destined

Paintking
Member
Paintking

The real + true “foisting” occurring is all the drugs and their users roaming our streets today. RV’s and tents are everywhere being “foisted” upon neighborhoods. People are moving out pal. Do you like the area surrounding the library? Do you give us all the OK + thumbs up there? Or do you pretend you can’t see it, or avoid that area? Which is an “eyesore”? OAC, or the commons? Look at the area by the foodbank. Is that an “eyesore”? You do NOT own the English language.

El Grunion
Member
El Grunion

yeah but ALL bums (sorry, i mean “junkies”) are innocent victims of circumstance and require special consideration because nicey-wokey-huggy-kissy.

Amphidextrous
Member
Amphidextrous

Off topic

scottieskillet
Member
scottieskillet

It is sad to hear that a family’s work and passion were altered under these difficult circumstances we all find ourselves.

The club has been an overwhelmingly positive place for minds and bodies for so many for so many years. I’m sorry to hear this news and grateful for the club my children learned to swim at and all the countless hours my wife and I have worked out there for over 20+ years. Thank you!

To those that are critical and easy with insulting language, please practice some kindness, please.

Scott, Tammy, Douglas and Camille Howard

Fudge La Fudge
Member
Fudge La Fudge
coryclassic
Member
coryclassic

Also sold a bunch of lifetime memberships then years later cancelled them.

Pork Pie
Member
Pork Pie

Which I just now learned from Fudge’s link (thanks Fudge).

scottieskillet
Member
scottieskillet

We are related to some of those folks that lost lifetime memberships. Doesn’t change the experience for me.

scottieskillet
Member
scottieskillet

Lots of business is problematic. It’s business

CaptainNemo
Member
CaptainNemo

The hatred for development here is large and unfounded.

Pork Pie
Member
Pork Pie

Please don’t speak for me. I think a larger hotel on Ballard Avenue was a great idea. But the complete disregard for integrating its design into the historic district was a brazen slap in the face of the community.

scottieskillet
Member
scottieskillet

Complete disregard seems hyperbolic. You don’t like it. Totally get it.

A Poopy
Member
A Poopy

OK, Jim Riggle.

Pork Pie
Member
Pork Pie

When trolling a site, it’s always a good idea to remember the key elements of your “persona.” In this case, you troll “hatred for development” and then in the post about the new apartment building you comment that Ballard is “overbuilt.” Try to keep it together, man! You’re making troll schoolboy errors.

lmiked31
Member
lmiked31

Nobody should feel bad for Riggle. He wasnt forced out. The way a buy / sell agreement works gives him the first right to buyout the other partner at the same price. If he didn’t want to, couldn’t find another partner or get a bank to finance it, then he received more than fair value for his shares.

Bill Tirrill
Guest
Bill Tirrill

Share a clue for the ignorant. Why couldn’t Riggle have just said “no,” and done nothing?

pennypriddy
Member
pennypriddy

After hearing how the Riggles treat their employees, this is very good news

Astin
Member
Astin

It’s so sad to hear that. Covid destroys many things. https://gta5cheats.co

cash-App-service
Member

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untruegriff
Member
untruegriff

That’s interesting…

Richard
Guest
Richard

About 12 years ago I bought my wife to be a membership and a number of lessors with a personal trainer. Turned out to be the classic Health Club rip off. An appointment had to be made to use the pool but only for 20 minutes. An appointment to see a PT was 6 weeks out and only available in the afternoon during working hours. Needless to say my wife never once made it inside. That was a $750 lesson for me. But still selling memberships ! No tears from me.

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