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MLB Approves Seattle Mariners Sale

Seattle MarinersIt wasn’t expected to be contentious, and it wasn’t: Major League Baseball approved the sale of the Seattle Mariners and a minority stake in ROOT Sports NW from Nintendo of America to current minority investor First Avenue Entertainment (FAE), in a deal that values the team and the sports-network share at $1.4 billion.

The sale was approved yesterday; it is expected to be announced later today or tomorrow.

Nintendo will retain a 10 percent share of the Mariners. As part of the deal, Mariners 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 still be associated with the team as a member of First Avenue Entertainment, while also representing Nintendo on the FAE Board of Directors. FAE was created by the Mariners and other investors to purchase ROOT Sports in 2013.

RELATED: Seattle Mariners Sold; Lincoln to Step Down as CEO

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