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HUDSON VALLEY – The Hudson Valley Renegades, a minor league baseball team based in Fishkill, has been sold in part of a deal involving 10 Minor League Baseball (MiLB) teams. This is the second sale of the New York Yankees farm team in recent history.
Last week’s transfer of Renegades ownership included nine other MiLB teams and $280 million dollars were transferred between owners for rights to the 10 teams.
In December of 2021, the Renegades and several other minor league teams were sold by the Goldklang Group to Diamond Baseball Holdings (DBH). The Goldklang group of investors are responsible for bringing the successful minor league Renegades to the Hudson Valley more than 20 years ago.
In reality, the $280 million transaction is just a reshuffling of corporate assets by the holding companies behind the deal.
DBH is a subsidiary of Endeavor, a multi-billion dollar firm with global influence in sports and entertainment. Endeavor has several subsidiaries including WME which is a talent and booking agency. WME represents several professional athletes. When the sale to DBH was approved, the Major League Baseball Players Association (MLBPA) contested the transaction, noting that the contract between Major League Baseball and the MLBPA prohibits agents, such as WME, from having ownership interests in baseball teams.
In the new agreement, designed to appease the players’ union, DBH has transferred ownership of the Hudson Valley Renegades and nine other teams to Silver Lake, a worldwide investment company with more than $88 billion in assets.
Front office personnel with the Hudson Valley Renegades told local news outlets that the ownership transfer will have no noticeable effect on the team or the fan experience. “The Hudson Valley Renegades, currently in first place in their division, will continue to provide families with a great and affordable baseball experience,” said a Renegades executive. “The partnership the Renegades have with Dutchess County, combined with the support from our owners will continue to draw crowds to our stadium to watch great baseball in an intimate setting.
Recent changes to minor league baseball have extended the number of games played at Dutchess Stadium (The Dutch). The Renegades played less than 40 games per season until recently. With the changes, the Renegades are now part of the South Atlantic League (Sally League) and play in the north division. With the new schedule, the Renegades began playing baseball at The Dutch in April and will play 132 regular-season games.