Houston Astros announce sale of 3 Minor League Affiliates to Diamond Baseball Holdings

HOUSTON - The Houston Astros announced on Tuesday they have agreed to sell three minor league affiliates to Diamond Baseball Holdings, according to a news release. 

Houston Astros announce sale of minor league affiliates to Diamond Baseball Holdings

What we know:

According to the release, the sale involves the Sugar Land Space Cowboys (AAA), Corpus Christi Hooks (AA), and Fayetteville Woodpeckers (A) to the organization. 

Officials said Diamond Baseball Holdings is an organization that owns and operates select minor league baseball clubs affiliated with Major League Baseball. 

The release stated the three clubs will remain affiliates of the Houston Astros and will continue to be guided by their existing local leadership, including GM Tyler Stamm in Sugar Land, GM Brady Ballard in Corpus Christi and GM Michelle Skinner in Fayetteville.

What they're saying:

"Diamond Baseball Holdings is the perfect partner for the Astros. Not only do they have a successful track record of investing in communities and Minor League Baseball, they also are committed to a best-in-class local fan experience," states Jim Crane, Owner and Chairman, Houston Astros. "On behalf of our entire organization, I want to personally thank every employee and fan within each of the clubs for helping make the Astros a championship franchise. We remain committed to these communities as our affiliate partners, and we look forward to continuing to grow the game of baseball together."

"Our affiliates are critical partners to the success of our major league franchise. We are excited to invest in our players within each of these communities and look forward to working alongside DBH and the local communities to ensure our players continue to have the best-in-class minor league experience they have been accustomed to," states Dana Brown, Astros General Manager.

"We’re excited to welcome these three outstanding Astros affiliates to the DBH family," said Pat Battle and Peter Freund, Executive Chairman and CEO of DBH, respectively. "The Space Cowboys, Hooks and Woodpeckers embody what makes Minor League Baseball so special as each has cultivated deep community roots and a strong player development culture. Our goal is to work closely with the Astros organization to enhance the foundation that they have built, bringing additional investment, resources and a relentless focus on fans and players."

What's next:

Subject to obtaining the consent of the league and satisfying other standard closing conditions, the transaction is expected to close in the coming weeks.