Thursday, March 10, 2016

Quick Hit: Yankees Owner Buys the Memphis Redbirds

No, not that Yankees owner. Not Hal or Hank Steinbrenner but one of the Yankees minority owners, Peter Freund, has purchased a franchise from the St. Louis Cardinals. Nearly two years about being bought by St. Louis the Memphis Redbirds have a new owner in Freund.

The Memphis Redbirds are a minor league affiliate that plays in the Pacific Coast League (Triple-A) and is just one of the umbrella organizations that makes the St. Louis Cardinals the most profitable team in all of Major League Baseball according to FORBES Magazine. Redbirds GM Craig Unger will remain with the team and will be promoted to president and general manager as a part of the transaction.

The St. Louis Cardinals will maintain a minority ownership stake with the team and the team will remain a Cardinals affiliate going forward, at least that’s the plan now, and will remain in the city of Memphis. This is not unprecedented, just as an FYI, though as Freund also principally owns the Class-A Williamsport Crosscutters (Philadelphia Phillies minor league team in the New York-Penn League) and the Charleston Riverdogs in Low-A for the Yankees.

What does this mean to us and the New York Yankees in general? Absolutely nothing, don’t fret. Just a nice little nugget of information I figured I would pass along thing morning. Enjoy and have a great day!

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Sorry for the Capatcha... Blame the Russians :)