Nintendo Sells Majority Stake In Seattle Mariners

We reported earlier in the year that Nintendo of America was planning on selling its majority share in the Seattle Mariners baseball team. They have reduced ownership from 55% to 10% and will receive $661 million. This is $31 million more than anticipated back in April.

 

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.

 

[Source: Nintendo]

Craig Majaski

Craig has been covering the video game industry since 1995. His work has been published across a wide spectrum of media sites. He's currently the Editor-In-Chief of Nintendo Times and contributes to Gaming Age.

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