for $661 million

In the “Notice Regarding the Start of Negotiations to Sell a Portion of Ownership in the Entity which Operates Seattle Mariners” published on April 28, 2016, Nintendo Co., Ltd. (the “Company”) announced that its wholly owned subsidiary, Nintendo of America Inc., had started negotiations to sell a portion of its ownership in First Avenue Entertainment LLLP, which operates the Seattle Mariners Major League Baseball team.

The Company hereby announces that the sale has officially been closed following approval by the Major League Baseball organization. The sales amount is 661 million U.S. dollars.

We expect that it will take some time to calculate and confirm the impact of this sale to the Company’s consolidated financial performance. After the impact has been confirmed, the Company will disclose the effect to the Company’s consolidated financial performance as necessary.

http://nintendoeverything.com/nintendo-sells-majority-stake-in-the-mariners-for-661-million/

Looking back on the Gaming Historian doc about this, I'm glad Nintendo took the chance and it at least helped allow the franchise to stay in Seattle despite the odds. This is more of a formal transition and not really about desperation for cash (though the amount is pretty darn good) as the franchise is secure and Nintendo did its job. They'll at least still have a little bit of ownership of the Mariners.

Owning the Mariners like like owning stock in portable DVD players. 

I think Nintendo bought the team for pretty cheap compared to this, even when adjusted for inflation.

And if I recall correctly a big reason for the purchase was because at the time there was a possibility of the team either being moved from Seattle or no longer existing if a bidder didn't pop up to maintain it there or something or other, and since Nintendo of America's headquarters is there they decided it would be a move of goodwill to acquire the team and keep it there (as well as obviously a solid investment)

The reality is it was a bit strange Nintendo owning the team and doesn't really do anything particularly for them moving forward, having it. The odds are not high that it will drastically raise in value any time soon and Nintendo has other endeavors to focus on

selling a property like that when you're going through a slowish year prior to the 2017 NX release is also logical to keep investors happy

This would give me something to talk about around the water cooler... I wish.

Good return from their investment. That club was in dire need of cash and Nintendo helped them out. From business perspective it was a good deal.

Still crazy too see how much sports teams costs

Seems like Nintendo is trying to make the quick dollar, though it could go either way if they decide to hold on to the shares

It would be so much more fun if the story was accompanied by "Nintendo to use the $600 mil to buy 6 new studios, 2 in NA, 2 in Europe, 2 in Japan that will focus on high quality core gamer experiences".

They sold majority of it, when the Nintendo representetive guy stepped down but kept I think 10%, this should be the 10%. 

For the record, Nintendo earlier said they will invest that money in theme parks they working on.