Tuesday October 3, 2023

Kings Owner in Talks to Buy MiLB Team for Record Price

  • The River Cats are owned by the family of late San Jose Sharks CEO Art Savage.
  • The team is a Triple-A affiliate of the San Francisco Giants.
Ottawa Senators sale.
Kyle Terada-USA TODAY Sports
Front Office Sports Today

NBC Could Get In On College Football Playoffs

NBC is exploring broadcasting a slice of the expanded CFP in 2026.
Listen Now
October 3, 2023 | Podcast
Linkedin
Copy Link
Link Copied
Link Copied

A consortium led by Sacramento Kings owner Vivek Ranadive is reportedly close to securing a deal to buy the city’s minor league baseball team — the River Cats — for roughly $90 million.

The potential sale — which would include the team’s home field, Sutter Health Park — would mark the highest purchase price ever for a minor league baseball team.

  • The River Cats are owned by the family of late San Jose Sharks CEO Art Savage.
  • The team is a Triple-A affiliate of the San Francisco Giants.
  • Sutter Health Park opened in 2000 and cost $46.5 million to build at the time.
  • Ranadive, a tech entrepreneur, is estimated to be worth more than $700 million

The sale would come in handy, as the Savage family needs to repay bonds related to Sutter Health Park’s construction after the River Cats moved from Vancouver to Sacramento in 2000.

The 15,000-seat ballpark, which was paid for using $40 million of public bonds issued by the River City Regional Stadium Authority, has seen a drop in attendance following the pandemic. 

Minor League Sales 

Earlier this month, private equity company Silver Lake agreed to purchase Diamond Baseball Holdings from Endeavor for $280 million.

Endeavor owns 10 minor league baseball teams through DBH — including affiliates of the St. Louis Cardinals, Chicago Cubs, and New York Yankees.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
Sponsored

How Daktronics Helps Elite Athletic Programs Secure Top Talent

How colleges are utilizing Daktronics' displays to elevate recruiting.

WBD Pursues ‘Different’ Strategy For Sports on Max

Company to place all of its live sports on new streaming tier

Colorado's Epic Victory Sets New ESPN Prime Time Viewership Record

Coach Prime Deion Sanders delivered in prime time on ESPN.
podcast thumbnail mobile
Front Office Sports Today

NBC Could Get In On College Football Playoffs

0:00
0:00

Featured Today

Football analyst and PFF investor Chris Collinsworth talks to man in front of computers

Cris Collinsworth 'Lost a Lot of Sleep' Over Pro Football Focus Leadership Issues

New book details why it’s no longer a “happy place to work.”
NBC is interested in media rights to the expanded College Football Playoff.
exclusive
October 2, 2023

NBC Is Interested in Expanded College Football Playoff Media Rights

NBC is one of the networks pitching the CFP, a source confirmed.
October 2, 2023

MLB Attendance Surges 70 Million, Tops League Projections

League posts best year-over-year increase at the gate since 1993
Levi's Stadium
October 2, 2023

49ers Study Shows Benefits of Public-Private Stadium Deals

Levi’s Stadium has generated more than $2 billion per new study.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
Chicago
Fanatics
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations

EA Rewarded For Decision To Split With FIFA

Company sees strong uptick in pre-release sales activity
A view of the Charlotte Hornets jersey with new jersey patch sponsor Feastables.
October 2, 2023

MrBeast Lands The First Creator-Led Brand Jersey Patch

Feastables will be the Charlotte Hornets’ official jersey patch sponsor.
Liverpool players celebrate after a goal.
September 28, 2023

FSG Sells $200M Liverpool Stake To Private Equity Firm

New York-based private equity firm makes its first deal
BioSteel
September 28, 2023

BioSteel Bankruptcy Shows Perils of Costly Sports Partnerships

BioSteel spent heavily on partnerships deals before bankruptcy.
WWE-Wrestling-Ring
September 26, 2023

Panini Picks Up Legal Win, Will Still Make WWE Trading Cards

New York judge denies WWE's bid for restraining order
September 25, 2023

Hollywood Writers' Deal Would Boost Sports Networks and Agencies

Several major sports media entities, talent agencies exposed to strike's effects
September 21, 2023

TKO Makes First Big Move After WWE-UFC Merger

Investors drop TKO shares by 15% following SmackDown rights deal
Deion Sanders
September 19, 2023

Deion Sanders' Sunglass Tiff Nets Eyewear Company Nearly $4.5 Million

Sanders has Midas touch for sunglasses sponsor Blenders.