Reading Fightin' Phils sold

[Philsmania]

I apologize if this was covered in another thread but the Reading organization has been gobbled up as part of the Diamond Baseball Holdings empire. I thought that the Phillies owned them.

https://www.milb.com/news/reading-fightin-phils-welcome-diamond-baseball-holdings-as-new-owner#:~:text=A%20affiliate%20of-,READING%2C%20Pa.,Major%20League%20Baseball%20(MLB).

[zambonir]

Wow. Yeah, maybe Phillies were only minority investors? Stein still owns LV. He sold Jersey Shore a few years back). The corporatization of the minors continues.

[VoteForKalas]

This corporate takeover trend seems to run counter to MLB teams being able to run their minor league organizations to develop talent and help the MLB team win.

What happens if there is a conflict between what the MLB team wants and the corporate owner of their minor league team wants? Or between what MLB, the team and the corporate owner of the minor league team want? Who oversees and adjudicates such issues?

That article states "Diamond Baseball Holdings (DBH) was formed in 2021 to support, promote and enhance Minor League Baseball Clubs affiliated with Major League Baseball through professional management, best practices, innovation and investment."

I'd love to know who owns DBH and what "best practices" are being implemented by DBH and how they align with MLB's mission as a sports league and the individual teams as businesses, but also as important elements within many local and regional communities where they play.

They now own close to 45 minor league teams. What if they start demanding certain actions be taken or other actions be stopped because it hurts their bottom line even if it is better for MLB and/or the MLB teams?

[zambonir]

It's no mystery. Were originally owned by the agency Endeavor and now it's a new holding company. It has created a lot of conflicts but they are extremely aligned with the MLB PTB. Some backstory

Under pressure from MLBPA, Endeavor sells 10 minor league teams

(2022)

WME Looks to Sell Off Baseball Agency Due to Union Pressure

(recent)

I think their roots are also in another team/stadium group that owned 8 or 10 teams at the same time in earlier days, possible with connections to arena management and or what eventually became Live Nation (or a similar company).

Clearly not good for the game but I doubt any of the 30 owners see it that way. The players, OTOH....

[VoteForKalas]

Thank you, Z

[bkox]

I'd love to know who owns DBH

From wikipedia

DBH was established in 2021 by media conglomerate Endeavor and is a subsidiary of the investment firm Silver Lake.

Endeavor Group Holdings, Inc. (formerly William Morris Endeavor and WME-IMG) is an American holding company for talent and media agencies with its primary offices in Beverly Hills, California.[2][3] The company was founded in April 2009 after the merger of the William Morris Agency and Endeavor Talent Agency. Endeavor represents artists in film, television, music, theater, digital media, and publishing.[4] It also represents the NFL and NHL.[5] Endeavor is majority owner of World Wrestling Entertainment (WWE) and the Ultimate Fighting Championship (UFC) through TKO Group.[6][7] In collegiate athletics Endeavor-Learfield IMG represents The American, A10, Big 12, Conference USA, Horizon League, MAC, MEAC, OVC, SEC and WCC.

Silver Lake Technology Management, L.L.C., is an American global private equity firm focused on technology and technology-enabled investments. Silver Lake is headquartered in Silicon Valley and New York, and has offices in London, Hong Kong, and Singapore.

In June 2024, Silver Lake was ranked 12th in Private Equity International's PEI 300 ranking of the largest private equity firms in the world

[bkox]

Z beat me to it

[VoteForKalas]

Thank you, bkox, very helpful

[fish]

Man, Craig Stein had been the owner since 1987. Hard to imagine another milb club owner that's done as much for a franchise. He (with some help) took an old stadium and turned it into a treasure and an experience. Hard to imagine having the same feelings about a conglomerate's ownership...who will probably sell in 5 years.

[zambonir]

Yup the epitome of the local team owner. But do you remember if, how, and to what extent the Phillies bought in? I feel like it was the same time they became the Fightins. Did they end up selling their share back or was it never big enough to matter anyway? (Another possibility, they still have their share and will simply be a minority partner with Diamond.)

[Philsmania]

Yup the epitome of the local team owner. But do you remember if, how, and to what extent the Phillies bought in? I feel like it was the same time they became the Fightins. Did they end up selling their share back or was it never big enough to matter anyway? (Another possibility, they still have their share and will simply be a minority partner with Diamond.)

I'm wondering the same. Wikipedia's page on the RFP's states that the Phillies are its owner.

[zambonir]

Yes it is now hard to Google the previous news thanks to the new news.

[zambonir]

I think the Phillies were majority owner and Stein was still the managing partner and ran operations. Nevertheless, you'd think it would be mentioned. Ditto if they'd unloaded their interest before this.