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Diamond Baseball Holdings Announces Partnership with Silver Lake

Global Leader in Technology Investing to Acquire DBH in Support of Strategic Growth Plan Focused on Enhancing the Fan, Player and Community Experience

NEW YORK — Diamond Baseball Holdings (DBH), an organization that owns and operates select Minor League Baseball Clubs affiliated with Major League Baseball (MLB), today is pleased to announce that Silver Lake, the global leader in technology investing, will become its new ownership partner. Silver Lake is acquiring DBH from Endeavor, a global sports and entertainment company.

Founded in 2021, DBH’s mission is to elevate fan and player experiences and enrich communities through innovation and investment. DBH Clubs are pillars of local communities across America, representing unique and high-quality entertainment. DBH drives value for Clubs by working directly with MLB on opportunities like sponsorship and merchandising, and as an integral part of DBH’s mission, partners with Clubs to create best-in-class facilities for player development for its MLB partners. Following the transaction, with Silver Lake’s support and expertise, DBH will continue to be focused on enhancing the fan, player and community experience.

“Creating the best and most consistent fan experiences in Minor League Baseball with deep local connectivity within each community will remain our number one priority at each of the DBH Clubs,” said Peter Freund, CEO of DBH. “As we continue our active acquisition strategy, we will remain focused on key markets, historic brands, modernized facilities and local, regional and national partnerships within each of these important communities.”

“We started DBH to build brand awareness around the amazing attributes of Minor League Baseball, and to support Clubs, communities and facilities. We are grateful to Endeavor for its early support and allowing our vision for the company to flourish,” said Pat Battle, Executive Chairman of DBH. “With the support of Silver Lake going forward, and by continuing to work with MLB at the national level, we are entering into a new and exciting chapter.”

“Since its launch, DBH has established a leadership position in Minor League Baseball, with its Clubs playing a pivotal role in local communities across the U.S. Given the massive live audience and reach of the minor league, we believe there is a large opportunity to invest further to support growth, drive technology-related innovation and offer improved experiences for all stakeholders,” said Stephen Evans, Managing Director of Silver Lake. “We are excited to partner with Pat, Peter and their team to help advance DBH’s mission, particularly with investment in digital technologies that are transforming baseball’s landscape today.”

“Silver Lake will be an excellent partner to these Clubs going forward given their deep understanding of the business and their incredible track record of investment in sports IP,” said Mark Shapiro, President of Endeavor.

DBH today operates 10 Clubs: Iowa Cubs (Triple-A affiliate of the Chicago Cubs); Memphis Redbirds (Triple-A affiliate of the St. Louis Cardinals); Scranton/Wilkes Barre RailRiders (Triple-A affiliate of the New York Yankees); Hudson Valley Renegades (High-A affiliate of the New York Yankees); San Jose Giants (Single-A affiliate of the San Francisco Giants); Gwinnett Stripers (Triple-A affiliate of the Atlanta Braves, 2021 World Series Champions); Mississippi Braves (Double-A affiliate of the Atlanta Braves); Rome Braves (High-A affiliate of the Atlanta Braves); Augusta GreenJackets (Single-A affiliate of the Atlanta Braves); Oklahoma City Dodgers (Triple-A affiliate of the Los Angeles Dodgers).

The transaction is subject to customary conditions and approvals and is expected to close in Q4 2022. Upon closing of the transaction, Pat Battle and Peter Freund will continue to lead DBH as Executive Chairman and Chief Executive Officer, respectively.

About Diamond Baseball Holdings

Diamond Baseball Holdings (DBH) was formed in 2021 to support, promote and enhance Minor League Baseball Clubs affiliated with Major League Baseball through professional management, best practices, innovation and investment.

About Silver Lake

Silver Lake is a global technology investment firm, with more than $88 billion in combined assets under management and committed capital and a team of professionals based in North America, Europe and Asia. Silver Lake’s portfolio companies collectively generate nearly $254 billion of revenue annually and employ approximately 557,000 people globally.