Entertainment firm Endeavor buys multiple minor league teams
March 23, 2015 – AutoZone Park, home of the Memphis Redbirds, will host the Gildan Triple-A National Championship. 0916 Masp Triplea
Endeavor, an entertainment company that owns brands such as UFC, WME and IMG, is forming a new baseball subsidiary with the intention of buying and operating several minor league baseball teams, the company said on Wednesday.
The new subsidiary, Diamond Baseball Holdings (DBH), has already signed purchase agreements with nine clubs in the MLB’s Professional Development League (PDL), including Triple-A affiliates of the New York Yankees, Cubs of Chicago, the St. Louis Cardinals and the San Francisco Giants.
Additionally, Endeavor announced the impending sale of the four subsidiaries of World Series champion Atlanta Braves (Triple-A Gwinnett Stripers, Double-A Mississippi Braves, High-A Rome Braves and Single-A Augusta GreenJackets).
Two longtime sports executives, Pat Battle and Peter B. Freund, will lead the new entity.
“We are excited to lead Diamond Baseball Holdings and create new opportunities for clubs and communities that play a vital role in cultivating America’s favorite pastime,” Battle and Freund said in a statement. “We will be global in our ambitions and hyper-local in our approach, and creating amazing fan experiences will remain our number one priority.
“Additionally, we look forward to providing growth opportunities to employees of PDL clubs whose passion and ingenuity have shaped the sport over decades.”
The full list of clubs soon to be acquired beyond Braves affiliates includes Triple-A Iowa Cubs (Cubs affiliates), Triple-A Memphis Redbirds (Cardinals), Triple-A Scranton / Wilkes Barre RailRiders (Yankees), High- A Hudson Valley Renegades (Yankees) and Single-A San Jose Giants (Giants).
All purchases are still subject to the usual closing conditions.
–Field level media