Nintendo of America is planning to sell its majority interest in the Mariners to other members of its current ownership group while retaining a 10 percent stake in the team, the company announced on Wednesday. Finalization of legal contracts and Major League Baseball's approval is still required to close the transaction, which is expected to happen in August.
As part of the deal, Mariners CEO and chairman Howard Lincoln will retire from day-to-day operations. John Stanton will replace him in that role, as well as become the designated MLB control person, while Lincoln will remain a member of the First Avenue Entertainment LLLP (FAE) board of directors, representing Nintendo's ownership interests.
"From the first day of our involvement nearly 24 years ago, Nintendo has had two goals for its investment in the Mariners," Lincoln said in a statement. "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.
"My goal and the goal of the entire Mariners ownership and management team is to win a World Series," Stanton said in a statement. "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."
Andrew Simon is a reporter for MLB.com. Follow him on Twitter @AndrewSimonMLB. This story was not subject to the approval of Major League Baseball or its clubs.
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