Cardinals' Triple-A affiliate to be acquired by international sports activities agency –

ST. LOUIS — The St. Louis Cardinals’ Triple-A minor league affiliate will quickly have a brand new proprietor.
Beverly Hills, California-based sports activities and leisure firm Endeavor Group Holdings (NYSE: EDR) stated Wednesday it has inked a purchase order settlement to accumulate the Memphis Redbirds, the Cardinals’ Triple-A affiliate. Monetary phrases of the deal weren’t disclosed. Endeavor stated it’s buying the workforce from its majority possession group, led by Peter Freund, and the St. Louis Cardinals, which held a minority curiosity.
The Cardinals declined to touch upon the deal.
The Memphis Redbirds are one in all 9 minor league golf equipment Endeavor says it plans to buy. With the deal, the general public firm says it has launched a brand new subsidiary known as Diamond Baseball Holdings to handle the golf equipment that will probably be led by Freund as CEO. The skilled baseball groups will add to Endeavor’s sports activities and leisure holdings, which embrace leisure company WME, combined martial arts group UFC and sports activities, vogue and media company IMG.
A Freund-owned entity, Trinity Sports activities Holdings, in 2016 acquired a majority stake within the Redbirds from the Cardinals. On the time of that deal, the Cardinals — which had acquired the Memphis workforce in 2014 for $15 million — stated they retained a minority curiosity within the Triple-A membership. The Redbirds, which play in Triple-A East, have been the Cardinals’ top-level affiliate since 1998.
The Redbirds stated Wednesday in an announcement that President and Normal Supervisor Craig Unger will stay answerable for operations after it joins Diamond Baseball Holdings.
“We’re excited to be becoming a member of DBH and furthering our dedication to contributing meaningfully to the Memphis and larger Mid-South group,” Unger stated in an announcement. 
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