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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).