Nintendo of America to sell a majority of its interest in the Seattle Mariners

In non-gaming news, Nintendo of America has announced the planned sale of a majority of its interest in the Seattle Mariners to other members of the current ownership group. Nintendo of America will hold on to a 10 percent stake in the team, while the remainder of its holdings will be sold to other members of First Avenue Entertainment LLLP (FAE). To clarify, FAE is the limited partnership that owns the Seattle Mariners, and a majority interest in ROOT Sports NW. Before the transaction closes, it’ll be subject to the finalization of legal contracts and approval from Major League Baseball. Nintendo expects this to happen in August.

CEO Howard Lincoln, who was once chairman of Nintendo of America, will be retiring day-to-day operations. John Stanton will replace him as Chairman and CEO, as well as as the designated Major League Baseball Control Person. Lincoln will remain a part of the FAE Board of Directors, representing Nintendo’s ownership interests.

Howard Lincoln said in a statement today:

“From the first day of our involvement nearly 24 years ago, Nintendo has had two goals for its investment in the Mariners. First, we wanted to assure the permanence of the team in this great city. And on that count, I am proud and gratified that this agreement further solidifies that goal. On the other hand, I’m equally disappointed that we have not been able to host a World Series game for our fans.”

John Stanton added:

“My goal and the goal of the entire Mariners ownership and management team is to win a World Series. I believe that the Mariners are well positioned to achieve that goal and it will be my honor to lead the organization. I want to thank Howard for his leadership for the last 17 years and thank the members of the board and ownership for giving me this opportunity.”

Source: Nintendo PR