Nintendo sells majority stake in the Mariners for $661 million
We’ve known for a few days now that Major League Baseball has approved the sale of Nintendo of America’s majority stake in the Seattle Mariners. An additional notice has since been posted on Nintendo’s investor relations website, confirming a sales amount of $661 million.
Just like we heard last week, “it will take some time to calculate and confirm the impact of this sale”. Nintendo intends to share this information once it’s available.
Nintendo of America still retains 10 percent ownership in the Mariners.
Today’s latest notice can be found below.
In the “Notice Regarding the Start of Negotiations to Sell a Portion of Ownership in the Entity which Operates Seattle Mariners” published on April 28, 2016, Nintendo Co., Ltd. (the “Company”) announced that its wholly owned subsidiary, Nintendo of America Inc., had started negotiations to sell a portion of its ownership in First Avenue Entertainment LLLP, which operates the Seattle Mariners Major League Baseball team.
The Company hereby announces that the sale has officially been closed following approval by the Major League Baseball organization. The sales amount is 661 million U.S. dollars.
We expect that it will take some time to calculate and confirm the impact of this sale to the Company’s consolidated financial performance. After the impact has been confirmed, the Company will disclose the effect to the Company’s consolidated financial performance as necessary.
