The Astros sold the Space Cowboys, Hooks, and Woodpeckers.
Interesting move… Seems like the trend in recent years has been for the big league clubs to want to own and manage their affiliates. What would be the benefit to the Astros of going the other way, and selling off these teams?
Teams keep operational control, PE firm pours in money? I guess?
The same thing has been happening all over sports, down to the College Conference level.
The PEification of minor league baseball is depressing.
Minor edit
It’s a massive, unregulated private entry stock market.
With little or no concern about the underlying product except how effectively it can be milked and then foisted off on someone else.
The benefit for the Astros, aside from the cash, is not having to manage those teams in smaller local markets. Having one giant conglomerate managing a shitload of teams provides consistency in how those teams are run while pumping cash into the product marketing and branding, all of which increases the value of the Major League entity. The Astros will still have full control over players, coaches, player development, etc but will not have to deal with local ownership who may be at odds with the Astros’ vision or have to do it themselves.