The Memphis Redbirds’ debt problems, which we reported here yesterday, apparently are hurting efforts to sell the minor-league baseball team. The Memphis Commercial Appeal reports:

Difficulty in making the annual $5.4 million in bond payments, which are broken into March 1, Sept. 1 and Nov. 1 installments, is the primary reason the team and AutoZone Park are for sale. The heavy stadium debt, however, has made it difficult to attract suitors — a situation that could improve if the Redbirds are able to restructure their financial terms.

The St. Louis Cardinals, the Memphis club’s major-league affiliate, once planned to buy the Redbirds, but pulled out of that deal in January. It’s easy to see why the Cardinals, with their own stadium to pay for, didn’t want to take on an additional $72 million in debt. The Commercial Appeal, however, raises the possibility that the purchase could be revived:

Redbirds officials said they hadn’t seriously addressed the debt issue with the Cardinals before the major league club pulled out of the deal.

Both sides say they’re hopeful that talks will eventually resume. In the meantime, the foundation remains willing to talk with any serious parties interested in taking on a team that is affiliated with one of baseball’s storied franchises and plays in a stadium rated the best in minor league baseball this year by Baseball America magazine — but which has enormous annual debt service.

The newspaper also quotes Ray Pohlman, president of the Memphis Redbirds Baseball Foundation, as saying he hopes bondholders are “willing to make some long-term concessions.”