NEW YORK, Dec. 11, 2025 /PRNewswire/ — OnDeck Partners, a newly established sports ownership group within the Avenue Sports Fund, which is led by Marc Lasry, today announced its entry into Minor League Baseball with the acquisition of two storied franchises: the Montgomery Biscuits (Double-A affiliate of the Tampa Bay Rays) and the Visalia Rawhide (Single-A affiliate of the Arizona Diamondbacks). These acquisitions mark the first step in OnDeck’s long-term vision to invest in fun, affordable entertainment while elevating the fan experience with the goal of deepening the connection between local communities and the game.
“As OnDeck Partners begins its journey, we see incredible opportunities to create unforgettable fan experiences and to enhance in-stadium offerings, resulting in stronger connections between local communities and the game,” said Mike Carney, CEO of OnDeck Partners. “The Biscuits and the Rawhide have both been long-time pillars of community spirit and entertainment. Our goal is to enhance these hometown team experiences, ensuring our ballparks remain places where communities gather, celebrate, and create lasting memories together.”
The Montgomery Biscuits have long been celebrated as one of Minor League Baseball’s most beloved franchises, known for their fan-friendly promotions and strong community ties in Alabama. The Visalia Rawhide, with more than 75 years of history in California’s Central Valley, is one of the sport’s most enduring franchises, recognized for its local impact and player development legacy.
By uniting these two storied clubs under the OnDeck banner, the group aims to enhance the traditions fans love while introducing forward-looking innovations in game day entertainment, fan experience, and community engagement. OnDeck Partners is led by a seasoned executive team with decades of operating expertise across professional sports, business, entertainment, and community engagement: Mike Carney, CEO; Jeff Wilen, COO; and Chirag Mithani, CFO. OnDeck’s capabilities are complemented by the capabilities and experience of the Avenue Sports team, which is led by Marc Lasry, the Chairman and CEO of Avenue Capital Group.
“We are excited to launch OnDeck Partners with these two acquisitions which represent our respect for the tradition of Minor League Baseball and our commitment to its future,” said Marc Lasry. “OnDeck is building something special and important: not only supporting the success of the teams in which it invests, but also contributing to the dynamism of the communities in which they are located.”
About OnDeck Partners
OnDeck Partners, led by CEO Mike Carney, owns and operates the Visalia Rawhide and Montgomery Biscuits, with a mission to transform ballparks into vibrant community hubs. It is part of the Avenue Sports Fund, which has made numerous investments across sports leagues and franchises in North America and Europe. Believing baseball is more than a game, OnDeck fosters connection, joy, and belonging by partnering closely with local communities. Guided by values of integrity, bold leadership, and dynamic energy, the company is redefining the ballpark experience and building lasting memories for fans on and off the field. To learn more visit www.ondeckpartners.com
About Avenue Sports Fund
Launched in 2023, Avenue Sports Fund’s core areas of investment focus include debt and preferred equity, minority stakes in established leagues, women’s sports, emerging leagues to capitalize on areas of exponential growth, and other sports businesses and properties. The Avenue Sports Fund is one of many funds of Avenue Capital Group, a global investment firm with over $10 billion in assets under management primarily focused on specialty lending, opportunistic credit and other special situation investments. Avenue, co-founded in 1995 by Marc Lasry and Sonia Gardner, draws on the skills and experience of over 60 investment professionals, and more than 175 employees worldwide operating from its headquarters in New York and offices in Dublin, London, Luxembourg, Hong Kong, New Delhi, Singapore, Sydney, Abu Dhabi and Silicon Valley.
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SOURCE OnDeck Partners
