Iowa Cubs Baseball Team Sold Twice Within Eight Months
Last year, the Iowa Cubs were sold for the first time in over two decades.
Following 22 years of ownership by Michael Gartner, the team was purchased by Diamond Baseball Holdings and Endeavor, which had also bought nine other MiLB teams across the country at the time. You may remember the story, as Gartner made sure to thank his former employees in a life-altering way.
Less than a year later, the team will change hands once again.
Shared by KCCI this evening, "Silver Lake will become its new ownership partner. Silver Lake is acquiring Diamond Baseball Holdings from Endeavor, a global sports and entertainment company."
The sale developed after the Major League Baseball Players Association (MLBPA) warned the ownership group that it would decertify Endeavor's talent agency group, William Morris Endeavor, if the company continued to own clubs. This all took place in January, according to The Athletic.
The Des Moines Register sums it up like this: "The acquisition of the Iowa Cubs and nine other teams had created a scenario in which a single company employed sports agents and owned clubs charged with developing players for Major League Baseball."
This is what Endeavor President Mark Shapiro said in a statement today:
Ultimately our relationship with MLB and the MLBPA took priority given the importance of our overall agency business and our continued investment in our baseball representation practice within WME Sports.
The Register adds that Silver Lake also obtained the following teams in their purchase today:
- Memphis Redbirds (Triple-A affiliate of the St. Louis Cardinals)
- Scranton/Wilkes Barre RailRiders (Triple-A affiliate of the New York Yankees)
- Hudson Valley Renegades (High-A affiliate of the New York Yankees)
- San Jose Giants (Single-A affiliate of the San Francisco Giants)
- Gwinnett Stripers (Triple-A affiliate of the Atlanta Braves)
- Mississippi Braves (Double-A affiliate of the Atlanta Braves)
- Rome Braves (High-A affiliate of the Atlanta Braves)
- Augusta GreenJackets (Single-A affiliate of the Atlanta Braves)
- Oklahoma City Dodgers (Triple-A affiliate of the Los Angeles Dodgers).
The story is still developing and will be updated as more information is made available to the public.