Visalia’s Minor League Baseball team will be under new ownership.
OnDeck Partners announced Thursday that it has acquired the Visalia Rawhide.
The big picture: OnDeck Partners is a new sports ownership group within New York-based firm Avenue Capital Group, which is led by billionaire Marc Lasry.
- This is the first foray into sports for Avenue Capital. The group also announced the purchase of the Montgomery Biscuits, the Single-A affiliate for the Tampa Bay Rays.
- OnDeck is purchasing the Rawhide from the First Pitch Entertainment and the Sigal family, who have owned the team since 2019.
What they’re saying: “As OnDeck Partners begins its journey, we see incredible opportunities to create unforgettable fan experiences and to enhance in-stadium offerings, resulting in stronger connections between local communities and the game,” said OnDeck CEO Mike Carney.
- Carney continued, “The Biscuits and the Rawhide have both been long-time pillars of community spirit and entertainment. Our goal is to enhance these hometown team experiences, ensuring our ballparks remain places where communities gather, celebrate, and create lasting memories together.”
- Lasry said his firm is excited to launch OnDeck with the acquisitions of the Rawhide and the Biscuits.
- “OnDeck is building something special and important: not only supporting the success of the teams in which it invests, but also contributing to the dynamism of the communities in which they are located,” Lasry said.
Flashback: The Sigal family and the City of Visalia agreed to a deal to keep the team in Visalia last year for the long run after a lengthy standoff over who should pay for upgrades to Valley Strong Ballpark.
The deal ensured that the Rawhide would not leave Visalia after eight decades in the city.
The city agreed to pay for the stadium’s long-term maintenance projects, such as replacing the fence, replacing the batter’s eye, lighting upgrades and improvements to the clubhouse and batting cages.
