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Nintendo America To Sell Majority Of Interest In Seattle Mariners

Nintendo of America today announced the planned sale of a majority of its interest in the Seattle Mariners to other members of the current ownership group. Under the plan, Nintendo of America will retain a 10% stake in the team, while the remainder of its holdings will be sold to other members of First Avenue Entertainment LLLP (FAE). FAE is the limited partnership that owns the Seattle Mariners, and a majority interest in ROOT Sports NW. Closing the transaction is subject to the finalization of legal contracts and approval from Major League Baseball which is expected in August of this year.

As part of the deal and at closing, current CEO Howard Lincoln will retire from day-to-day operations, and John Stanton will replace him as Chairman and CEO, and as the designated Major League Baseball Control Person. Lincoln will continue on as a member of the FAE Board of Directors, representing Nintendo’s ownership interests.

“From the first day of our involvement nearly 24 years ago, Nintendo has had two goals for its investment in the Mariners,” said Howard Lincoln. “First, we wanted to assure the permanence of the team in this great city. And on that count, I am proud and gratified that this agreement further solidifies that goal. On the other hand, I’m equally disappointed that we have not been able to host a World Series game for our fans.”

John Stanton said, “My goal and the goal of the entire Mariners ownership and management team is to win a World Series. I believe that the Mariners are well positioned to achieve that goal and it will be my honor to lead the organization. I want to thank Howard for his leadership for the last 17 years and thank the members of the board and ownership for giving me this opportunity.”

Specific details of the transaction will not be disclosed. A valuation of $1.4 billion for FAE’s holdings (team and RSN) was used as the basis for the sale. Nintendo of America, Howard Lincoln and John Stanton were principal participants in the negotiations.

FAE expects no organizational or personnel changes as a result of the transaction.

Source: PR

19 thoughts on “Nintendo America To Sell Majority Of Interest In Seattle Mariners”

    1. Sounds like nintendo is trying to get money to keep them afloat while they struggle with their company. They have no games to make money with for them until NX comes in 2017. They have a Game drought expected to hit now that Star Fox released and will not be selling as the expected. Color Splash is going to horrible and Kirby is going to be crap. Metroid isn’t going to sell. They have nothing until March.

      1. Probably since it seems all of that Wii cash is being sealed up behind the walls at Nintendo’s main HQ in Japan as we speak. *is being partly dead serious about this*

    1. If I remember correctly, Yamauchi was a fan of the team & bought them to ensure they remained an actual team in the city & of Baseball.

  1. Aw! I always liked telling people that Nintendo actually owned a Baseball team & watch them be in total shock of the news! :/

    1. Lol that was for the SNES game right? That was a great game. I used to play it all the time. I remember now that he played for Seattle back then. I guess I was too young at the time to make the connection

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