Seven Minor League Baseball teams were sold in the last week, as private equity and new technologies are heavily involved in the evolution of the sport.
Avenue Sports, a private equity group investing in major sports franchises (including the NFL’s Buffalo Bills in 2024), has launched OnDeck Partners and announced the purchase of two MiLB teams: the Montgomery Biscuits (Double-A; Southern League) and the Visalia Rawhide (Low-A; California League).
Avenue Sports is led by Marc Lasry, a co-owner of the NBA’s Milwaukee Bucks from 2014 to 2023, increasing the value of the franchise and accomplishing the construction of Fiserv Forum. Other principals with Avenue Sports: Mike Carney, CEO; Jeff Wilen, COO; and Chirag Mithani, CFO.
“We are excited to launch OnDeck Partners with these two acquisitions which represent our respect for the tradition of Minor League Baseball and our commitment to its future,” Lasry said via press release. “OnDeck is building something special and important: not only supporting the success of the teams in which it invests, but also contributing to the dynamism of the communities in which they are located.”
“As OnDeck Partners begins its journey, we see incredible opportunities to create unforgettable fan experiences and to enhance in-stadium offerings, resulting in stronger connections between local communities and the game,” Carney said via press release. “The Biscuits and the Rawhide have both been long-time pillars of community spirit and entertainment. Our goal is to enhance these hometown team experiences, ensuring our ballparks remain places where communities gather, celebrate, and create lasting memories together.”
Tom Dickson and Sherrie Myers launched the Biscuits in 2004, playing in the newly opened Riverwalk Stadium after relocating the Orlando Rays from Disney World. A group led by Lou DiBella purchased the Biscuits in 2017; DiBella retains his ownership interest in the Richmond Flying Squirrels (Double-A; Eastern League). In Visalia, the team was sold by the Sigal family, owners of the Rawhide since 2019.
In Florida and Ohio, Prospector Baseball Group has acquired the Jacksonville Jumbo Shrimp (Triple-A; International League) and the Akron RubberDucks (Double-A; Eastern League) from Fast Forward Group, led by Ken Babby. Babby is now CEO of the Tampa Bay Rays after an October purchase of the MLB franchise to an ownership group led by Patrick Zalupski that also includes Bill Cosgrove and Babby, as well as a sizable list of limited partners, including Andy Sandler of Temerity Baseball, owner of several MiLB teams. Harold Craw will be joining Babby in Tampa Bay, while Matt Goudreau and Noel Blaha remain with the Jumbo Shrimp, with Goudreau as president and general manager and Blaha as senior vice president.
“We are proud to welcome the Jacksonville Jumbo Shrimp to the Prospector Baseball Group family,” said John Abbamondi and Ben Boyer, co-founders of PBG, in a joint press release. “The Jumbo Shrimp are one of the most vibrant franchises in Minor League Baseball, built on a commitment to ‘Affordable Family Fun’ that we are honored to continue.”
The purchase of the Jumbo Shrimp and RubberDucks followed the Oct. 30 purchase by Prospector Baseball Group of the Lancaster Stormers (independent; Atlantic League).
Finally, on Dec. 9 Diamond Baseball Holdings announced the purchase of three MiLB licensees from the Houston Astros: the Sugar Land Space Cowboys (Triple-A; Pacific Coast League), Corpus Christi Hooks (Double-A; Texas League) and Fayetteville Woodpeckers (Low-A; Carolina League). The three clubs will remain affiliates of the Astros and continue to be guided by their existing local leadership, including GM Tyler Stamm in Sugar Land, GM Brady Ballard in Corpus Christi and GM Michelle Skinner in Fayetteville.
“We’re excited to welcome these three outstanding Astros affiliates to the DBH family,” said Pat Battle and Peter Freund, Executive Chairman and CEO of DBH, respectively, via press release. “The Space Cowboys, Hooks and Woodpeckers embody what makes Minor League Baseball so special as each has cultivated deep community roots and a strong player development culture. Our goal is to work closely with the Astros organization to enhance the foundation that they have built, bringing additional investment, resources and a relentless focus on fans and players.”