{image1}The state and MMAC audits released last week showed the Seligs have done nothing dishonest, but the Brewers are even deeper in the financial hole than originally reported.

Those of us who have known the Seligs and the Brewers for a long time expected the findings.

There are those Selig haters who will discount them. Many of those people are among the sore losers who opposed the public funding of Miller Park. They will never change their minds. Perception, even when delusional, is reality for some people.

The disturbing part of the audits was the Brewers' debt total, which now has exceeded $133 million. The report said the average debt in the major leagues for teams that have new stadiums is $140 million, so the Brewers were actually better off than some other teams.

But, those teams are likely in markets where revenue can be recouped quicker than in Milwaukee, one of the smallest markets in pro sports. Some of this debt can be blamed on the Selig management team, especially those who managed the baseball portion of the operations before GM Doug Melvin and manager Ned Yost took over.

More than a decade of losing led to lower attendance, even when the team moved to Miller Park.

All this is history. It is clear that new owners, with deeper pockets, are needed. The real question: Is this team marketable to prospective buyers with such a large debt?

You see, the debt goes with the franchise. I just sold my home in Whitefish Bay. When I received the check from the buyers, I paid off my mortgage. The amount left over was my profit.

But, that's not how it works with a pro sports franchise. If the Brewers are sold for $180 million, the Selig ownership group does not pay off the $133 million debt and walk away with "only" $47 million. The debt goes to the new owners.

That has to be a bit of an impediment to a quick sale. No local buyers have stepped forward, waving their checkbooks. Some interest has been expressed nationally, but Brewers' officials will tell you nothing is imminent.

But, believe it or not, there are reasons to buy this team. First is the "buy low" wisdom among high roller investors. At $180 million, and a payroll around $30 million, the Brewers represent a bargain among major league sports franchises.

Second, Miller Park is a world-class venue. Third, there are signs that this club will get better on the field. They look capable of playing around .500 this season, have made longer term commitments to Geoff Jenkins, Scott Podsednik and a couple other core players, and they have what many rate as some of the best prospects in baseball a year or two away.

Finally, many Milwaukee and Wisconsin sports fans would really like to be baseball fans again. They just need an excuse to become so. Give them one, in a stadium where they can be comfortable all season long, and they will turn out.

If all goes well in this scenario, owners of the franchise could earn their way out of that debt in not too many years, especially if Major League Baseball continues to help out smaller market franchises with revenue sharing.

These factors could convince some high rollers around the country to invest in a baseball franchise in Milwaukee. They probably would include a couple local investors so Milwaukee -- still paranoid about losing the Braves in the 1960s -- won't panic like it did when Michael Jordan was interested in buying the Bucks.

Everybody from Wendy Selig-Prieb to Gov. Jim Doyle has said the lease on Miller Park locks buyers into keeping the Brewers in Milwaukee. If the team wins, and the fans turn out, maybe the owners would never think of going elsewhere.

So, in this writer's opinion, the answer to the question posed in this column's headline is: Yes, if all of the above fall into place.

Hot Tix

Speaking of those Braves, they come to Miller Park for a three-game series this weekend. Friday night is Milwaukee Braves Night. A memorial to Warren Spahn and the Braves will be unveiled, and the Brewers will play in vintage 1950s Braves' uniforms.

The unveiling ceremony will take place from 5:45 to 6:15 p.m. Greg Spahn, son of the late great lefthander, and several former Braves will take part in it, as well as a pre-game ceremony at 7:05 p.m.

Before the Braves come to town, the Brewers will wrap up their series with the Montreal Expos in a 12:05 p.m. game at Miller Park.

With a win, the Admirals could have wrapped up their American Hockey League playoff series with Chicago on Wednesday night. See a Sports Buzz Update on that game at the end of this column my mid-morning on Thursday.

If the Admirals won, they will advance to the AHL championship round against Eastern Conference champion Rochester. If the Admirals lost, the Western Conference series will go back to Chicago for a game and could wrap up in Game 7 at the Bradley Center Saturday.

Wave United will open its second outdoor soccer season with a game at Uihlein Soccer Park against the Edmonton Aviators on Saturday. The Bombers also open their Aussie Rules Football season in Chicago against the Sharks.

In sports Beyond Milwaukee, the Wisconsin Intercollegiate Athletic Conference baseball tournament will be held Friday and Saturday at Whitewater.

Golf fans, might also mark their calendars, long range, for 2007. Whistling Straits, which will host the PGA Championship this summer, was named the course for the Senior Open in that year. The Kohler courses really are putting Wisconsin on the international golf map.