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BY2K · Apr 27, 2016

Now with PR.

REDMOND, Wash.--(BUSINESS WIRE)--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.

http://gonintendo.com/stories/25669...-sell-majority-of-their-stake-in-seattle-mari

Seattle MarinersVerified account
‏@Mariners
Nintendo of America plans to sell a majority of its interest in the #Mariners to other members of the current ownership group.

https://twitter.com/Mariners/status/725445323141709826?ref_src=twsrc^tfw

Nintendo of America will retain a 10% stake in the team. Remainder of its holdings sold to other members of First Avenue Entertainment LLLP.

https://twitter.com/Mariners/status/725445504784441344

RBH · Apr 27, 2016

Nintendo of America plans to sell a majority of its interest in the #Mariners to other members of the current ownership group.

Nintendo of America will retain a 10% stake in the team. Remainder of its holdings sold to other members of First Avenue Entertainment LLLP.

#Mariners CEO Howard Lincoln will retire from day-to-day operations, and John Stanton will replace him as Chairman and CEO.

https://twitter.com/Mariners/status/725445323141709826

FaidSint · Apr 27, 2016

That sucks. I always liked the Mariners because of this.

DeathSparks · Apr 27, 2016

Well this came out of nowhere, that's a smart business decision

Spyder_Monkey · Apr 27, 2016

Baseball's a video game right?

udivision · Apr 27, 2016

Finally... I guess.

darkside31337 · Apr 27, 2016

gonna feel bad for the folks in seattle when their baseball team moves to oklahoma city.

Sandfox · Apr 27, 2016

I'm guessing this has to do with Howard Lincoln stepping down.

Jonnax · Apr 27, 2016

Gotta pay for dGPUs for the those NXs somehow, right?

ReBurn · Apr 27, 2016

Things are worse than we thought.

speedpop · Apr 27, 2016

Yamauchi's cold dead nails are slowly being loosened.

Vena · Apr 27, 2016

Sandfox said:
I'm guessing this has to do with Howard Lincoln stepping down.

That and they were discussing the holding last year, so this has been a thing coming for a while.

Whiskeymatt · Apr 27, 2016

There have been whispers of the Mariners ownership selling for the past few years. The sudden announcement and confirmation came out of nowhere, though. Odd timing.

thefro · Apr 27, 2016

Nintendo currently owns 55% of the team.

45% of the team (valued at 1.4 billion per terms of the deal) is $630 million

Pretty nice-sized warchest for NOA

Crimsonclaw111 · Apr 27, 2016

Spyder_Monkey said:
Baseball's a video game right?

Nintendo even stars in a Sony baseball game.

Broken Joystick · Apr 27, 2016

That's a nice little plum they got there

thefro · Apr 27, 2016

I think this is no coincidence that this news drops on the same day Nintendo announces their financial results in Japan (and before Kimishima comments to investors in a few hours).

Deleted member 465307 · Apr 27, 2016

thefro said:
Nintendo currently owns 55% of the team.

45% of the team (valued at 1.4 billion per terms of the deal) is $630 million

Pretty nice-sized warchest for NOA

Oh wow, that's more than I expected.

Sweeney Tom · Apr 27, 2016

This is the biggest L day Nintendo's ever had.

Please tell me this is their last bit of news for the day :'[ mercy

adamantypants · Apr 27, 2016

TIL Nintendo owns part of the Mariners

Falchion · Apr 27, 2016

Sweeney Tom said:
This is the biggest L day Nintendo's ever had.

Please tell me this is their last bit of news for the day :'[ mercy

This is pretty much what I was thinking.

Weebos · Apr 27, 2016

Spyder_Monkey said:
Baseball's a video game right?

.

-MB- · Apr 27, 2016

thefro said:
Nintendo currently owns 55% of the team.

45% of the team (valued at 1.4 billion per terms of the deal) is $630 million

Pretty nice-sized warchest for NOA

So basicaly a little over half a Sony HQ worth!

Valjean Lafitte · Apr 27, 2016

Yamauchi hasn't been dead 3 years even, and already he's beginning to roll in his grave.

Jawmuncher · Apr 27, 2016

I wish they had bought the team 100% instead. Change their name to the Nintendo Mariners

vinnygambini · Apr 27, 2016

Good news.

Get that cash, wonder how much they will get.

Edit: $600M wut???

chicagocubsfan · Apr 27, 2016

Im gonna miss the Japanese Nintendo ads they would put behind home plate.

TheGreatMightyPoo · Apr 27, 2016

Jawmuncher said:
I wish they had bought the team 100% instead. Change their name to the Nintendo Mariners

The caps would be easy to design.

BY2K · Apr 27, 2016

thefro said:
Nintendo currently owns 55% of the team.

45% of the team (valued at 1.4 billion per terms of the deal) is $630 million

Pretty nice-sized warchest for NOA

Holy shit, that's some cash right in the warchest for NoA.

And with Reggie becoming CEO...

AcademicSaucer · Apr 27, 2016

They need the money

Crimsonclaw111 · Apr 27, 2016

BY2K said:
Holy shit, that's some cash right in the warchest for NoA.

And with Reggie becoming CEO...

That can buy a lot of memes.

RBH · Apr 27, 2016

*salutes*

jediyoshi · Apr 27, 2016

Jawmuncher said:
I wish they had bought the team 100% instead. Change their name to the Nintendo Mariners

Nintendo Mariners. Xbox Sounders. PlayStationHawks.

outunderthestars · Apr 27, 2016

I wonder how much they will net after taxes and what not....

James Scott · Apr 27, 2016

thefro said:
Nintendo currently owns 55% of the team.

45% of the team (valued at 1.4 billion per terms of the deal) is $630 million

Pretty nice-sized warchest for NOA

That and the overturned patent case is a nice chunk of change they're going to be saving/making

javac · Apr 27, 2016

End of an era.

axisofweevils · Apr 27, 2016

https://twitter.com/Mariners/status/725445504784441344

They still keep 10% stake, but yeah, end of an era for sure.

Pastry · Apr 27, 2016

Gotta meet payroll for 2016 somehow.

StrongBlackVine · Apr 27, 2016

Isn't owning a professional sports team more of prestige thing than a business? I guess it is different when it is corporation compared to an individual though.

Arcteryx · Apr 27, 2016

darkside31337 said:
gonna feel bad for the folks in seattle when their baseball team moves to oklahoma city.

Pretty soon we won't have anything left.

_woLf · Apr 27, 2016

darkside31337 said:
gonna feel bad for the folks in seattle when their baseball team moves to oklahoma city.

nobody is lining up to buy the dumpster fire that is the seattle mariners

though I find it funny that just when things are looking up howard steps down. huh.

Jotamide · Apr 27, 2016

Crimsonclaw111 said:
That can buy a lot of memes.

Nah, I'd say 5 rare pepes or 2 ultra rare ones.

vinnygambini · Apr 27, 2016

Hiroshi Yamauchi's son-in-law, Minoru Arakawa was President of NOA and had established himself as a leading member of the Seattle business community, so Yamauchi decided to fund a majority of the $125 million purchase price. In 1992 he paid $67 million for his 54% ownership stake in the Seattle Mariners.

From $60M to $600M

http://seekingalpha.com/article/43310-who-is-buying-nintendo-stock

thefro · Apr 27, 2016

Sweeney Tom said:
This is the biggest L day Nintendo's ever had.

Please tell me this is their last bit of news for the day :'[ mercy

It's a good time for them to sell... the value is going to go down in a few years once cord-cutters cause the cable TV sports rights market to crash.

StrongBlackVine said:
Isn't owning a professional sports team more of prestige thing than a business? I guess it is different when it is corporation compared to an individual though.

The ownership group bought the team for $125 million in 1992 and now it's worth $1.4 billion, so I think it's been pretty profitable for everyone.

Chase17 · Apr 27, 2016

This is the most disappointing Nintendo news of the day

Chris R · Apr 27, 2016

Chase17 said:
This is the most disappointing Nintendo news of the day

Uh, it's the best news I've heard about Nintendo all day long.

bachikarn · Apr 27, 2016

BY2K said:
Holy shit, that's some cash right in the warchest for NoA.

And with Reggie becoming CEO...

Is Reggie actually becoming CEO? I might have missed the news.

PS - Help us Howard Lincoln, you are our only hope.

Zombie James · Apr 27, 2016

Didn't they just announce a profit? Or are things that bad behind the scenes?

Shang · Apr 27, 2016

bachikarn said:
Is Reggie actually becoming CEO? I might have missed the news.

PS - Help us Howard Lincoln, you are our only hope.

Was Reggie not the CEO? What does this difference entail?

StrongBlackVine · Apr 27, 2016

thefro said:
They bought the team for $125 million in 1992 and now it's worth $1.4 billion, so I think it's been pretty profitable for everyone.

I know there is profit to be made, but plenty of teams have increased substantially in value and don't get sold.

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