Nintendo Sells Its Stake in MLB Team for $661 Million
Mario company still owns a 10 percent share of the Seattle Mariners.
Having already completed its majority sale of Major League Baseball team the Seattle Mariners, Nintendo today announced how much the sale amounted to: $661 million.
In a news release today, Nintendo announced that the deal has been officially closed, following an approval from Major League Baseball.
As for the $661 million, Nintendo said it expects it will "take some time to calculate and confirm" the impact of this on its financial performance. This is expected to be divulged when Nintendo reports earnings next, this fall.
Nintendo still owns a 10 percent stake in the Mariners, though the majority ownership now stands with members of First Avenue Entertainment. Howard Lincoln retired from his post as part of the sale--he served as Nintendo of America's chairman in the '90s. Now, majority owner John Stanton--who has been involved in the Mariners organization since 2000--replaces Lincoln as chairman and CEO, in addition to being the designated MLB control person for the team. Lincoln continues to serve on the FAE Board of Directors, representing Nintendo.
Stanton took to Twitter back in April, when Nintendo first announced it would sell its majority stake, to discuss his goals for the Mariners and its pursuit of a World Series win.
"I believe that the Mariners are well positioned to achieve that goal and it will be my honor to lead the organization," he said. "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."
As for how the team is performing this season, the Mariners are currently only one game out of first place in the AL West.