Deals
Nintendo to Sell Mariners Stake to Stanton Ownership Group
- Mobile-Phone Mogul Would Become Chief Executive Officer
- John Stanton Says Ownership Group Includes 17 Investors
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Nintendo Co. will sell its controlling stake in the Seattle Mariners baseball team to a group of minority owners led by mobile-phone mogul John Stanton in a deal that values the business at $1.4 billion and places it under local control.
The sale, which also includes the team’s regional television network, is the first in Major League Baseball since the San Diego Padres fetched $800 million in 2012. The Los Angeles Dodgers were also sold that year, for a record $2.15 billion.