Mandalay Baseball Properties today announced a long-rumored deal to sell the Double-A Texas League Frisco RoughRiders to former MLB Rangers CEO & co-Owner Chuck Greenberg. The RoughRiders will join a Greenberg minor-league portfolio that also includes the Single-A Carolina League Myrtle Beach Pelicans and New York-Penn League State College Spikes. Also part of the Greenberg group is Scott Sonju, current RoughRiders President and now co-Managing Partner of the newly formed Frisco RoughRiders LP investor group.
Financial terms for the sale were not disclosed, but the deal closing conditioned on various approvals from the Texas League, MiLB and MLB. Industry rumors earlier this spring suggested the deal would be worth more than $30M, a record sum for a minor league baseball team. The RoughRiders have been a Rangers affiliate since '02. The deal is part of an ongoing effort by Mandalay Baseball Properties' majority owner, Seaport Capital, to divest its baseball holdings. Initial efforts were focused on selling all five MiLB teams it owns in one block, but after a lack of success there, the strategy was pivoted late last year to individual deals.
