TBS Finally Sells BayStars Baseball Team to DeNA Social Gaming Co.
Tokyo Broadcasting System television net has finally got the loss-making Yokohama BayStars baseball team off its books after selling it to DeNA, operator of giant social gaming platform, Mobage.
TOKYO – TBS (Tokyo Broadcasting System) television net has finally got the loss-making Yokohama BayStars baseball team off its books after selling it to DeNA, operator of giant social gaming platform, Mobage.
The BayStars, the consistently worst team in the six-team Central League, have been costing TBS approximately 2 billion yen ($26 million) a year in losses. DeNA plans to make the franchise profitable within three years.
The takeover was approved by 11-1 at a meeting of the owners of the Nippon Professional Baseball (NPB) clubs on Thursday. A three quarters majority of approval from club owners is required for major decisions on franchises.
The deal is to cost DeNA a total of 9.5 billion yen, including fees to the NPB and the team is to be rechristened Yokohama DeNA BayStars.
Although TBS is selling the club for far less than the 14 billion yen it paid for it in 2001, it has already written down the lowered value of the perennially losing team on its books, and will book a 5.9 billion yen extraordinary profit on the sale this quarter.