Mandalay Baseball Properties To Be Minority Owner Of Professional Sports Catering
Mandalay Baseball Properties has struck a joint venture agreement with Professional Sports Catering LLC in which it will become a minority owner and strategic partner to the Illinois-based food and beverage service company, which focuses exclusively on minor league baseball and services a dozen teams. Financial terms were not disclosed, but the pact represents a meaningful expansion for the Mandalay portfolio, which includes six minor league teams it owns and/or operates. PSC was formed five years ago by Tom Dickson and his wife, Sherrie Myers, owners of the Class A Lansing (Mich.) Lugnuts and Class AA Montgomery (Ala.) Biscuits. "PSC offers a very different model to the norm and are very focused on the minor league baseball fan experience," said Mandalay Baseball Properties CEO Art Matin. "They understand this business acutely because they're in the business." But even with the alignment with PSC, no new decisions have been made yet on future concession services for the Mandalay portfolio clubs. The Class AAA Scranton-Wilkes Barre (Pa.) Yankees, co-owned by Mandalay and the N.Y. Yankees, will continue to be serviced by Legends Hospitality, another entity owned in part by the Yankees. "We're taking all of this one step at a time," Matin said. "The first thing is taking this first step working together." PSC had been approached several times in recent years with similar partnership and acquisition offers from various entities, but had declined them all until talks with Mandalay began last fall. PSC's existing name and management structure will remain intact. "We hadn't been interested at all, but this one with Mandalay is a natural fit with our company," Dickson said. "We've been growing, and now expect further, significant growth with this new structure."