Fresno Grizzlies baseball team just sold. What will new owners bring to downtown stadium?

The Fresno Grizzlies have a new owner.

The Class-A baseball team on Tuesday announced its sale to Diamond Baseball Holdings, where it will join a roster of more than 20 other minor-league affiliates owned and operated by the Silver Lake Partners subsidiary.

The team will remain at Chukchansi Park in downtown stadium as an affiliate of the Colorado Rockies and keep its current front office staff, including President and General Manager Derek Franks.

“Our fans have enabled us to set the bar high for what minor league baseball means in Fresno,” Franks said in a statement. “We’re excited to partner with DBH to continue elevating the experiences we bring to the community.”

Fresno Sports and Events took over the team in 2018, when the Grizzlies were still a Triple-A Pacific Coast League affiliate with the Houston Astros. It lost that affiliation in 2020.

Along with promoting Franks to general manager, the group began capital improvements on the downtown stadium, which it agreed to lease through 2036.

It is not immediately clear how any agreements will carry over to the new ownership, but Fresno Mayor Jerry Dyer welcomed the new owners, saying ”their investment, tenure and expertise in minor league baseball will greatly benefit both the Grizzlies, and our continued downtown revitalization.”

Dyer and and the city have nearly $300 million in state grants to spend on infrastructure – parking garages, sewer, water, storm drain lines and more – within roughly 250 acres to spur new housing in the city’s historic core.

For its part, Diamond Baseball Holdings, said it was excited at the prospects at the stadium.

“Our shared vision for bringing the absolute best in entertainment to the ballpark 365 days a year is one of many things that excites us most about the franchise,” the company said in a release.

The sale also further cements the company’s relationship with the Colorado Rockies. Last month, it announced an agreement to purchase the Isotopes, the Rockies’ Triple-A affiliate in Albuquerque, New Mexico.

The Grizzlies finished with the best record in the California League in the 2023 season and had several league records, including one for the highest attendance.