Nintendo Isn't the Majority Owner of a Pro Baseball Team Anymore

Discussion in 'General News' started by News Bot, Aug 19, 2016.

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  1. News Bot

    News Bot News Reporter
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    It was announced back in April that Nintendo was going to sell its majority stake in the Seattle Mariners, and now Major League Baseball has approved the sale to other members of the team's ownership group.

    Nintendo now holds a 10 percent stake in the baseball team, after selling most of its ownership to members of First Avenue Entertainment. Current CEO 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 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.

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    Financial numbers have not been released, but the sale's impact on Nintendo will be included in the company's next quarterly financial report.

    Former Nintendo president and chairman Hiroshi Yamauchi bought the Seattle Mariners in 1992. Stanton says that Yamauchi bought team with "the idea to return to local ownership." With Stanton now owning the majority of the Mariners, that has happened. Stanton has been a part of the Mariners organization since 2000 and joined the board of directors this year. He said in a statement that he cares "deeply and passionately about the game of baseball and about baseball fans in Seattle and the Northwest."

    "Mariners fans have been so positive, so patient with the team, and we want to reward them with playoff and World Series baseball here at Safeco Field," Stanton added.

    "I want [to] express my deepest appreciation to Howard Lincoln for his 17 years of leadership and a smooth transition in the last four months," he continued. "The future of Mariners baseball is bright. The right management team is in place and focused on winning. It is an honor to lead this franchise, and I am ready to get started and excited for the challenges ahead."

    Stanton took to Twitter back in April 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 three games out of first place in the AL West.

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