Yahoo Finance ‘An incredible privilege.’ Charlotte Knights announce sale to new ownership group
The Charlotte Knights officially have new owners.
The Queen City’s minor league baseball franchise, which plays its home games in Truist Field in the heart of uptown, announced Tuesday that it had been sold to Diamond Baseball Holdings, a company that owns and operates select minor league baseball teams.
The team was previously owned by Don Beaver and his minority partner Bill Allen. They purchased the Knights in 1997 from George Shinn, who was also the founding owner of the Charlotte Hornets.
The Knights will remain the Triple A affiliate of the Chicago White Sox and will continue to operate under the existing front office staff — which includes current leadership of chief operating officer Dan Rajkowski, according to a release.
A press conference with Diamond Baseball Holdings CEO Peter Freund and Rajkowski is planned for 11:30 a.m. on Thursday at Truist Field.
“On behalf of my family, I’d like to extend my sincere thanks to Mecklenburg County, the City of Charlotte, Charlotte Center City Partners and the fans of the Charlotte Knights for supporting our franchise over the years,” Beaver said in a statement. “For the past 25-plus years, the Knights have been a big part of my family’s life, and I wish the club much success as it moves into a new chapter with Diamond Baseball Holdings.
“Truist Field is one of the finest ballparks in the country and baseball is a true staple of the Charlotte community. We will continue to support the Knights and attend as many games as possible.”
The Knights announced that they were up for sale in January and had immediate interest. The Charlotte franchise is considered among the most attractive in minor league baseball — much of that having to do with the boon that is Truist Field, the park encased by skyscrapers that opened in 2014.
Charlotte’s minor league baseball team was first conceived in 1976, when wrestling promoter Jim Crockett Jr. and his family bought the Asheville Orioles and relocated the team to Charlotte. The name changed from the O’s to the Knights under Shinn, who bought the team in the late 80s.
The ballpark, in addition to Knights games during the summer, also hosts seasonal events. That includes the annual Light the Knights Festival in the winter, as well as the 2024 Queen City Outdoor Classic — a Charlotte Checkers hockey game that let in 11,000 fans and set a new attendance record for a single event in the ballpark’s 10-year history.
It is unclear how much Diamond Baseball Holdings paid to acquire the Knights. The sale is subject to the consent of Major League Baseball “and satisfying other standard closing conditions,” according to the team. But, the release added, “the transaction is expected to close soon.”
Diamond Baseball Holdings owns a bunch of minor league clubs with affiliations to MLB teams across the country. That includes the rest of the Chicago White Sox’s farm system teams, including the Double A Birmingham Barons and the High A Winston-Salem Dash.
“The Knights for years have embodied the very best that MiLB has to offer — from a one-of-a-kind setting to unmatched family entertainment to a significant role as a community leader — and it is an incredible privilege to add them to our roster,” Diamond Baseball Holdings Pat Battle (chairman) and Peter Freund (CEO) said in a joint statement. “We thank Don Beaver, Bill Allen, Mecklenburg County and the City of Charlotte for their support during the transition, and we couldn’t be more thrilled to continue growing our relationship with the White Sox.
“Our goal is to build on the fantastic experience at Truist Field by placing the emphasis on our fans and players with a commitment to innovation and best-in-class services.”
