Private equity continues to deepen its presence in Minor League Baseball, as an Arctos Partners–backed platform agrees to acquire two additional teams. Prospector Baseball Group, led by Arctos, has struck a deal to purchase the Jacksonville Jumbo Shrimp, the Miami Marlins’ Triple-A affiliate, and the Akron RubberDucks, the Cleveland Guardians’ Double-A affiliate, bringing the total number of MiLB teams changing hands in a single week to seven — all tied to private-equity buyers.
The RubberDucks were sold by Fast Forward Group founder Ken Babby, who was required to divest under league rules after joining the ownership group of the Tampa Bay Rays. Arctos’ formal entry into MiLB comes as the firm explores a potential majority stake sale to KKR, while continuing to build a broad sports portfolio that includes minority stakes across the NBA, NFL, and MLB.
Private equity now has ownership ties to more than 43% of all MiLB teams, driven largely by Silver Lake–backed Diamond Baseball Holdings, which continues to consolidate affiliates across multiple levels. Other recent buyers include Avenue Capital–linked OnDeck Partners, highlighting growing institutional interest in MiLB as a more accessible entry point into sports ownership. While financial terms are often undisclosed, recent Triple-A team sales have generally ranged well below $100 million, underscoring the relative affordability compared with major league franchises.
Source: Front Office Sports
