Endeavor, an entertainment company that owns such brands as UFC, WME and IMG, is creating a new baseball subsidiary with the intention of buying and operating multiple minor league baseball teams, the company announced Wednesday.
The new subsidiary, Diamond Baseball Holdings (DBH), has already signed purchase agreements with nine MLB Professional Development League (PDL) clubs, including Triple-A affiliates of the New York Yankees, Chicago Cubs, St. Louis Cardinals and San Francisco Giants.
Two longtime sports executives, Pat Battle and Peter B. Freund, will lead the new entity.
"We are excited to lead Diamond Baseball Holdings and create new opportunities for clubs and communities that play an essential role in cultivating America's favorite pastime," Battle and Freund said in a statement.