We reported back in April that Nintendo hoped to sell it's majority stake in the Seattle Mariners. It appears that the sale could close this week which would be great news for Nintendo's bank balance in advance of launching Nintendo NX in March 2017.
It's been reported that Major League Baseball owners were set to vote yesterday on the proposed sale of the controlling stake in the Seattle Mariners from Nintendo of America to a group of minority owners led by John Stanton.
As part of the sale, Stanton will take over as control person from current chairman Howard Lincoln, who is retiring.
Nintendo plans to sell all but 10 percent of its stake in the franchise. The team said was valued at $1.4 billion in April, so that's a large chunk of change for Nintendo.
The story of how Nintendo came to own the Seattle Mariners to begin with is a fascinating one, for more insight into this we'll hand you over to the Gaming Historian.
What are your thoughts on the sale of the Seattle Mariners? As always, let us know with a comment below.
I wonder if you can still order food from a Nintendo DS (or if you'd still be able to after the sale).
@chiefeagle02 Was that possible!?
Man, maybe sometime soon Nintendo will actually have something noteworthy to talk about -_-
I can see the surrounding area rejoicing about this. I bet they think Nintendo has been holding them back from being better over the last what 20 years.
@boatie We all hope that after September we have the NX to talk about it.
I love this news! So glad Nintendo has been reshuffling their finances and restructuring. Sure, it's a more stable platform owning an MLB team, but I'd rather they take those profits and redistribute it into the "NX Gamble".
Mariners aren't a very good team most years anyway.
Interesting. It was cool seeing them Last night facing off against the Angels. Good Game
@Spoony_Tech They did sign Cano to a huge 10 year 240 million dollar contract a couple years ago, so it's not that the team hasnt spent a lot of money
So Nintendo are selling a rounders team😂
Forbes currently values the mariners at 1.2 billion.
@Grandpa_Pixel I believe so. I never attended a game since I live in California, but I remember the press release back then that you could order food and also see the players and game stats on your DS. It was a really cool feature.
It's a shame they stopped sponsoring them. They need to sponsor an F1/Nascar.
@Dazza: You might want to change that link to the Gaming Historian video. The Gaming Historian posted on Twitter today that he had to remove that video due to the MLB sending him a cease and desist order.
"What are your thoughts on the sale of the Seattle Mariners? As always, let us know with a comment below."
Lets see... so, you own 10% in a MLB team which is generating you a (slim) but solid profit .. and you are selling it to a "private group of investors" .. so heres what I think:
Your next project flops and you are the next Sega ...
Apart from that, ask ESPN about "which would be great news for Nintendo's bank balance in advance " and whether they consider it to be a good move... or, lets make it easier, ask your local bank manager
Good luck - Showdown 2017
"I love this news! So glad Nintendo has been reshuffling their finances and restructuring."
I virtually just spit out my drink laughing ...
@ironside1911 And why exactly is that??
You know, sometimes if you have big plans in the pipeline you need the immediate capital to finance your plans.
It's pretty evident that for the past three years Nintendo has been doing just that.
It doesn't necessarily mean it's a desperation move. Companies do this all the time.
I understand that it is steady income...but very small income. The fire sale of it generates TONS of immediate capital that can be redistributed into other potentially higher yielding growth and profit plans.
@Grandpa_Pixel Yup. https://youtu.be/TcYBXp_u1UQ
I'm glad they're keeping a 10% stake still, not only because it gives them a consistent flow of income, however small, but also because it's one of those quirks about Nintendo I enjoy. I'm personally a Red Sox fan, but I have to say, I don't mind the Mariners.
@ironside1911 Nintendo is worth nearl 28 billion. They are definitely not going to pull a sega anytime soon.
Why are they keeping 10% of the stakes?
Selling your assets is NOT a good thing! What do you sell next time you need some cash?
@Incarta They didn't need the cash from this sale, they just couldn't keep the team running anymore. Nintendo is in fire-sale mode and won't be anytime soon.
@ironside1911 Nintendo actually owned the majority (i think it was about 60-70%) and their selling that majority while keeping 10% for themselves. So they'll still make some money off the team, but not as much as they were.
I'm from Seattle, very glad they are selling their share. That's why the M's are going to the playoffs this year because everything Nintendo touches nowadays is very mediocre...just like the Mariners have been ever since they bought the team.
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