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Mariners ownership transition underway
- Updated: April 27, 2016
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 …
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