A-B InBev Monitoring FIFA Case O'Conner Adds MiLB Enterprises Title Marketers Discuss "Mayhem" Campaign ESPN To Televise Streetball Tourney Braves Selling SunTrust Park Tickets Classified Advertisements Will FIFA Sponsors React To Arrests? Minding My Business With Donna Goldsmith Women's World Cup Tix Selling Fast Ole Miss Sets New Revenue Mark
SBD/April 5, 2013/FinancePrint All
Seaport Capital, which includes a majority stake in Mandalay Baseball Properties, is “selling its share of the holding company that owns five minor-league baseball teams, including half" of the Yankees’ Triple-A affiliate, according to Scott Soshnick of BLOOMBERG NEWS. Game Plan Chair Bob Caporale said N.Y.-based Seaport has “retained Game Plan LLC to sell the holding company.” Included in the portfolio are the Single-A Midwest League Dayton Dragons, Double-A Eastern League Erie Seawolves, Double-A Texas League Frisco Roughriders, Triple-A PCL Oklahoma City Redhawks and Triple-A Int'l League Scranton/Wilkes-Barre RailRiders, which are co-owned by the Yankees. Game Plan announced that the teams are “expected to generate more than $40 million in revenue this year.” Caporale said that he “sees three categories of possible buyers: someone who wants the company to do more in sports entertainment; someone who wants to create a national minor-league footprint by expanding operations into hockey or basketball, or an equity fund interested in a pure investment.” Investors in Mandalay Baseball Properties include Basketball HOFer and Dodgers investor Magic Johnson, Dodgers investor and Warriors co-Owner Peter Guber, and former NFLer Archie Griffin. Mandalay also “owns minority interests in Professional Sports Catering and 4Topps Premium Seating” (BLOOMBERG NEWS, 4/4).