BREAKING NEWS: St. Louis Cardinals Consider Selling Minority Stake to Albert Pujols and Marc Lasry
The St. Louis Cardinals, a storied franchise in Major League Baseball (MLB), are reportedly exploring a significant ownership restructuring. The current owners are in discussions to sell approximately 10% of the team to two prominent figures: former Cardinals star Albert Pujols and billionaire Marc Lasry.
Albert Pujols played for the St. Louis Cardinals for 12 seasons. He was drafted by the Cardinals in 1999 and played for them from 2001 to 2011 and again in 2022. Over his career with the Cardinals, Pujols established himself as one of the team’s all-time greats, earning three National League MVP awards and leading the team to two World Series championships.
Marc Lasry, born on September 23, 1959, is a Moroccan-American billionaire businessman and private equity manager. He is the co-founder and CEO of Avenue Capital Group. Lasry previously co-owned the Milwaukee Bucks NBA team from 2014 to 2023.
The potential sale of a minority stake in the Cardinals comes at a time of transition for the team. The St. Louis Cardinals are entering a season in which they will likely be taking a step back from contention. After a disappointing 2023 season, the team is looking to rebuild and retool for the future.
The concept of offering Pujols an ownership stake was previously discussed during contract negotiations but was ultimately tabled. There are over a dozen investors in the Cardinals current ownership group. To allow the purchase of the Reds in 2005, the rest of the group bought out shares, totaling an estimated 13%.
According to Forbes, the Cardinals were valued at $488 million, the eighth-most valuable club in MLB. A one-percent share would equate to roughly $5 million.
As the Cardinals move forward with discussions about selling a minority stake to Albert Pujols and Marc Lasry, the baseball world will be watching closely to see how this potential transaction impacts the team and the MLB.
