Nintendo sells its stake in Seattle Mariners for $661 million

[Justin]

Having already completed its majority sale of Major League Baseball team the Seattle Mariners, Nintendo today announced how much the sale amounted to: $661 million. In a news release today, Nintendo announced that the deal has been officially closed, following an approval from Major League Baseball.

 

As for the $661 million, Nintendo said it expects it will "take some time to calculate and confirm" the impact of this on its financial performance. This is expected to be divulged when Nintendo reports earnings next, this fall.

 

Nintendo still owns a 10 percent stake in the Mariners, though the majority ownership now stands with members of First Avenue Entertainment. Howard Lincoln retired from his post as part of the sale -- he served as Nintendo of America's chairman in the '90s. Now, majority owner John Stanton -- who has been involved in the Mariners organization since 2000 -- replaces Lincoln as chairman and CEO, in addition to being the designated MLB control person for the team. Lincoln continues to serve on the FAE Board of Directors, representing Nintendo.

 

More from CNET and Polygon:

 

From CNET

Nintendo sells its stake in Seattle Mariners MLB team for $661 million

The Mario game company still owns a 10 percent share of the Seattle Mariners.

http://www.cnet.com/news/nintendo-sells-its-stake-in-seattle-mariners-mlb-team-for-661-million/

 

 

From Polygon

Nintendo nets $661 million in sale of Seattle Mariners

Still retains 10 percent stake in the ownership group

http://www.polygon.com/2016/8/22/12584458/nintendo-seattle-mariners-sale-661-million

[RickR]

They saved the Mariners from leaving Seattle, for which those of us in the Pacific Northwest are most grateful.  A beautiful new stadium was also built under their ownership.  All this was done as a thanks to the community that supported Nintendo of America for such a long time. 

 

Nintendo, we salute you.