League sells Scorpions to Godfather Media

Diamond Sports & Entertainment, owner of the North American League and the Yuma Scorpions, announced late Tuesday that it sold the Scorpions to Godfather Media Inc.

Godfather Media is a Mission Viejo, Calif.-based media company that is building a portfolio of media and entertainment subsidiaries and also intends to make ownership shares of the Scorpions available to investors in the Yuma community.

“We think this is a very good thing for the future of professional baseball in Yuma,” said Diamond Sports and Entertainment CEO Brian MacInnes in a press release from the league. “No matter who owns it and pays the bills, a minor league baseball team really belongs to a community.

“We are grateful to have been the shepherd of the Yuma Scorpions for seven seasons and for having had the opportunity to contribute to the economy and quality of life in this wonderful town. Godfather Media can bring significant corporate resources to support the team and coupled with their other media and entertainment experience, they should provide lots of fun and excitement for Yuma fans.”

A press conference to meet the new owners is set for 2 p.m. Tuesday in the media room at Desert Sun Stadium.

According to a press release from Godfather Media, the company acquired 100 percent of the assets of the team, the right of first refusal to the operating territories of Henderson, Nev.; San Luis Obispo, Calif.; San Diego and Riverside, Calif., for the next three years for 5 million in Godfather Media Inc. restricted common stock. The Yuma Scorpions will continue to operate as a wholly owned subsidiary of Godfather Media Inc.

“This is the start to our new business strategy and our goal is to continue to grow rapidly through strategic acquisitions, such as the Yuma Scorpions,” said Godfather Media CEO Michael Cummings. “With this acquisition, we've achieved a significant milestone and I look forward to our continued success. We have acquired an asset, which I believe will yield a significant return to our shareholders.”

According to its website, Godfather Media is a holding company founded in 1985. It states the business model is to take partial or full control of “a number of subsidiary companies.” Its portfolio, according to the site, consists “primarily of long-term investments in small to medium market companies using cash, preferred/common stock and other equity interests. Our targeted investment will typically range between $1 million and $5 million, although this investment size may vary proportionately as the size of our capital base changes. Godfather's core philosophy is to invest in undervalued companies with successful business models, existing cash flows and prospects for value creation.”

The website lists three categories of subsidiaries: Godfather Baseball Group, Godfather Entertainment Group and Godfather Mobile and Social Media Group. However, the links to a list of subsidiary companies reads “coming soon.”