Silver Lake Management, L.L.C. completed the acquisition of Diamond Baseball Holdings, LLC from Endeavor Group Holdings, Inc..
September 28, 2022
Share
Silver Lake Management, L.L.C. entered into a definitive agreement to acquire Diamond Baseball Holdings, LLC from Endeavor Group Holdings, Inc. (NYSE:EDR) for $280 million on August 9, 2022. Silver Lake will acquire ten MLB Professional Development League clubs, including the Hudson Valley Renegades, Iowa Cubs, Memphis Redbirds, San Jose Giants, Scranton/Wilkes-Barre RailRiders, Augusta GreenJackets, Gwinnett Stripers, Mississippi Braves, Rome Braves and Oklahoma City Dodgers for an aggregate purchase price of approximately $280 million cash, subject to certain adjustments during the interim period. Under Silver Lake's ownership, Pat Battle and Peter Freund will continue to lead the Professional Development League business as Executive Chairman and Chief Executive Officer of Diamond Baseball Holdings. The transaction is subject to applicable regulatory consents and approvals, obtaining applicable third party approvals and the satisfaction of certain customary closing conditions. The transaction is expected to close in the fourth quarter of 2022. Justin Hamill, Frank Saviano, Alan Kimball, Katherine Rocco, Meghan Cocci and Benjamin Cohen of Latham & Watkins LLP acted as legal advisor to Endeavor Group.
Silver Lake Management, L.L.C. completed the acquisition to acquire Diamond Baseball Holdings, LLC from Endeavor Group Holdings, Inc. (NYSE:EDR) on September 29, 2022. Simpson Thacher & Bartlett LLP acted as legal advisor to Silver Lake Management, L.L.C.
Endeavor Group Holdings, Inc. is a global sports and entertainment company. It owns and operates sports and entertainment properties, including the Ultimate Fighting Championship (UFC), World Wrestling Entertainment, Inc. (WWE), produces and distributes sports and entertainment content. It also owns and manages live events and experiences, and represents sports, entertainment and fashion talent. The Companyâs Owned Sports Properties segment is comprised of a portfolio of sports properties, including UFC, WWE, professional bull riders and Euroleague. Events, Experiences & Rights segment owns and operates events, including the Miami Open and Madrid Open, Barrett-Jackson, New York Fashion Week: The Shows, and Hyde Park Winter Wonderland. Representation segment provides brand strategy, marketing, advertising, public relations, analytics, digital, activation and experiential services to corporate and other clients. Sports Data & Technology segment is comprised of its IMG ARENA and OpenBet.