Up to nine minor league teams will be acquired initially.
Endeavor, the parent company of UFC, WME and IMG, has formed a new business venture and is buying into minor league baseball.
On Wednesday, Endeavor announced the formation of Diamond Baseball Holdings, a new subsidiary that will oversee their acquisition and management of up to nine MLB Professional Development League (PDL) Clubs.
According to the release, Diamond Baseball Holdings plans on buying the following franchises:
- Iowa Cubs (Triple-A affiliate of the Chicago Cubs)
- Memphis Redbirds (Triple-A affiliate of the St. Louis Cardinals)
- Scranton/Wilkes Barre RailRiders (Triple-A affiliate of the New York Yankees)
- Hudson Valley Renegades (High-A affiliate of the New York Yankees)
- San Jose Giants (Single-A affiliate of the San Francisco Giants)
The release also indicates that, pending approval, the group will take control of all four affiliates of the 2021 World Series champion Atlanta Braves: the Gwinnett Stripers (Triple-A), Mississippi Braves (Double-A), Rome Braves (High-A) and Augusta GreenJackets (Single-A).
Peter Freund, who is a minority owner of the Yankees and majority owner of the Memphis Redbirds, has been named the CEO of Diamond Baseball Holdings. He recently worked with the commissioner’s office in the development of the MLB Draft League.
Pat Battle, who is currently Chairman of the Board of Learfield, was named the Executive Chairman of the new venture. He also has ownership in two minor league organizations.
“We are excited to lead Diamond Baseball Holdings and create new opportunities for Clubs and communities that play an essential role in cultivating America’s favorite pastime,” Battle and Freund said in the release. “We will be global in our ambitions and hyper-local in our approach, and creating incredible fan experiences will remain our number one priority. Additionally, we look forward to providing opportunities for growth to the employees of PDL Clubs whose passion and ingenuity have built the sport through the decades.”