Cardinals to sell majority stake in minor league team

The St. Louis Cardinals announced Monday the team reached an agreement to sell a majority interest in the Memphis Redbirds, its Triple-A minor league team.
 
Terms of the deal – expected to close April 1 – with Trinity Baseball Holdings principal owner Peter Freund were not disclosed. Freund also owns minor league teams in Pennsylvania and South Carolina.
 
The Redbirds will continue as the Cardinals’ Triple-A affiliate, and the Cardinals will continue to hold a minority stake in the Memphis team, according to the St. Louis Business Journal.
 
Read more from the St. Louis Business Journal.