MEMPHIS (KMOX) - A $3.6 billion company is making a huge splash in Minor League Baseball and has purchased the Gwinnett Stripers, the Mississippi Braves, the Rome Braves, and the Augusta GreenJackets, along with five other developmental clubs to become likely the largest single owner of MiLB teams ever.
Endeavor, an entertainment and events company which also owns the UFC and PBR, is creating a new subsidiary organization called Diamond Baseball Holdings (DBH). These are the nine clubs it acquired, according to an announcement on Wednesday:
• Iowa Cubs – Chicago Cubs AAA affiliate
• Memphis Redbirds – St. Louis Cardinals AAA affiliate
• Scranton/Wilkes-Barre RailRiders – New York Yankees AAA affiliate
• Hudson Valley Renegades – Yankees A affiliate
• San Jose (California) Giants – San Francisco Giants A affiliate
• All Atlanta Braves’ MiLB clubs – Class AAA Gwinnett Stripers, Class AA Mississippi Braves, Class A Rome Braves and Class A Augusta GreenJackets.
When the deal closes (there are still hurdles, including PDL approval) the Stripers will continue to be led by Vice President and General Manager Erin McCormick, and remain an MLB affiliate of the Atlanta Braves, according to a release sent by the Stripers.
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“The Gwinnett Stripers are excited to join Diamond Baseball Holdings, and proud to continue as the Triple-A affiliate of the Atlanta Braves,” said McCormick. “Under the leadership of DBH, we will further our commitment to the creativity and innovation that make Coolray Field one of the best fan experiences in minor league baseball.”
Endeavor is an estimated $3.6 billion company and DBH is now believed to be the largest single owner of minor league franchises the minors have ever seen, according to Baseball America. The company also says it's in the late stages of negotiations to purchase a "handful" of other significant franchises.
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The clubs are expected to still be operated day-to-day by its current executives, but DBH will “support its clubs with ticket sales, partnerships, naming rights, food and beverage, merchandising, content strategy, collectibles/authentics/NFTs, and media rights, tapping into the broader Endeavor network including Learfield and Endeavor Analytics for expertise across the various disciplines.”
One longtime MiLB owner, Goldklang Group of the Hudson Valley Renegades says the teams will be in good hands under Freund.
“I have known Peter Freund for almost 15 years and have every confidence that with him at the helm, Diamond Baseball Holdings will continue to build on our legacy, which we are incredibly proud of,” said Marv Goldklang, chairman of The Goldklang Group, reports SportBusiness.com.
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