Mariners introduce new CEO; Nintendo to sell off majority share

The Seattle Mariners ushered in a new era Wednesday, announcing that Nintendo of America intends to sell its majority ownership share in the franchise before confirming John Stanton will replace Howard Lincoln as chairman and CEO.

Lincoln, who served as chairman and CEO for the last 15 years, said Nintendo will retain a 10 percent stake in the club, but the remainder of its holdings will be sold to other members of First Avenue Entertainment LLLP.

"From the first day of our involvement nearly 24 years ago, Nintendo has had two goals for its investment in the Mariners," Lincoln said. "First, we wanted to assure the permanence of the team in this great city. And on that count, I am proud and gratified that this agreement further solidifies that goal. On the other hand, I'm equally disappointed that we have not been able to host a World Series game for our fans."

The 76-year-old then handed the Safeco Field press conference over to Stanton, a Seattle native and one of the team's minority owners since 2000.

"When (former Nintendo president) Mr. (Hiroshi) Yamauchi purchased the team, it was with the idea to return to local ownership," Stanton said. "Today marks the opportunity to do that."

Stanton added: "My goal and the goal of the entire Mariners ownership and management team is to win a World Series. I believe that the Mariners are well positioned to achieve that goal and it will be my honor to lead the organization."

Though Lincoln will no longer handle day-to-day operations, the club confirmed Kevin Mather will stay on as team president and that no other changes are planned with respect to front-office personnel.