Endeavor says goodbye to his bet on baseball. The holding formed by the marketing agency WME-IMG and the Ultimate Fighting Championship (UFC) has sold its subsidiary of baseball teams, Diamond Baseball Holdings, to the Silver Lake fund for 280 million dollars.
Diamond Baseball Holdings changes hands just nine months after Endeavor founded the subsidiary. During these months, the company controlled various teams from the affiliate leagues of Minor League Baseball (Milb): the Triple Affiliates of the New York Yankees (Scranton, Wilkes Barre RailRiders); Chicago Cubs (Iowa Cubs), St. Louis Cardinals (Memphis Redbirds), Atlanta Braves (Gwinnett Stripers), Oklahoma Dodgers and all other Braves minor league teams, as well as Single A affiliate of the San Francisco Giants and High-A affiliate of the Yankees.
Immediately after the acquisition, the baseball players association raised objections to Endeavor controlling so many teams of the same competition, alleging conflict of interest. In addition, the company had a baseball player agent business; so that justice forced him to choose between his representation business and his Milb teams.
Endeavor controlled various teams from the affiliate leagues of Minor League Baseball (Milb)
“Silver Lake will be an excellent partner for all of these clubs in the future, given their deep knowledge of the business and their history of investing in sports property,” said Mark Shapiro, president of Endeavor.
“We look forward to working closely with Silver Lake and continuing the momentum in advocating for minor league baseball,” said Pat Battle, CEO of Diamond Baseball Holdings. “After several months of guidance from Endeavor, it is now Silver Lake’s turn to continue to drive the growth of this organization,” added the subsidiary’s CEO, Peter Freund.
Diamond Baseball Holdings went public in December 2021 with the aim of acquiring nine Minor League Baseball clubs and manage your business: monitor the ticketingsponsorships, copyrights wemarketing and audiovisual rights, among other things.