Nintendo selling a majority of their Stake in the Seattle Mariners
1 replies, posted
From the official Seattle Mariners' Twitter Account:
[media]http://twitter.com/Mariners/status/725445323141709826[/media]
[media]http://twitter.com/Mariners/status/725445504784441344[/media]
[media]http://twitter.com/Mariners/status/725445748737761281[/media]
[url=http://gonintendo.com/stories/256691-nintendo-planning-to-sell-majority-of-their-stake-in-seattle-mari]Source[/url].
I wonder if this means Nintendo knows they are going to have a hard Fall and Holiday season, and they are trying to soften the blow.
EDIT: [url=http://gonintendo.com/stories/256693-noa-pr-seattle-mariners-ownership-transition]An official Press release has been put out[/url].
Nintendo has 5 billion dollars in pure cash, with possibly 10 more thanks to bonds and whatnot. The reason for selling their stock here is probably a combination of Howard Lincoln leaving (who was the donkey kong lawyer that helped influence nintendo's purchase of the team) and the fact that baseball has been losing money over the years thanks to cable cutters and lack of interest. Overall, they didn't need to pull out, but that 600 million definitely doesn't hurt.
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