Dayton Business Journal
Dayton Dragons baseball team sold to 3 investors
Don Baker

A deal has been reached for the Dayton Dragons minor league baseball team to be sold to three investors, according to an announcement.

One of the new owners is a limited partner in the Memphis Grizzlies NBA team, and all three are former Harvard University graduates. Terms of the deal were not released, but a report earlier this year said the team was expected to sell for as much as $40 million, and be the most expensive deal in minor league baseball history.

Palisades Arcadia Baseball LLC has entered into a definitive agreement to purchase the Dayton Dragons franchise - the Single-A affiliate of the Cincinnati Reds - from Mandalay Baseball Properties LLC.

Note: Click here for a slideshow of the Dayton Dragons.

The agreement is subject to customary closing conditions, including the approvals of the Midwest League, the offices of Minor League Baseball, and the review of the Office of the Commissioner of Major League Baseball.

Palisades Arcadia Baseball is led by three Harvard friends and graduates, Nick Sakellariadis, Greg Rosenbaum, and Michael Savit.

Sakellariadis recently retired following a 35-year investment banking career at Citigroup-related companies.

Rosenbaum is President of Palisades Associates, Inc., a merchant banking and investment firm...

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