Wilmington Blue Rocks purchased by billionaire-led sports company
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The Wilmington Blue Rocks have been purchased by Minor League Baseball operating company OnDeck Partners.
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The July 21 sale was approved by the Riverfront Development Corp., which owns and operates the team's stadium.
Billionaire Marc Lasry leads the Washington, DC-based OnDeck Sports & Entertainment. The company also owns the minor league Montgomery Biscuits and Visalia Rawhide, and Lasry previously held a 25% stake in the NBA's Milwaukee Bucks.
For the last 11 years, the Blue Rocks were owned by Dave Heller, Clark Minker and Main Street Baseball, a group that invested more than $8 million in stadium upgrades. OnDeck said it plans to build on that work.
"During their tenure, Heller and Minker oversaw numerous ballpark improvements to Frawley Stadium and maintained an unwavering charitable commitment to the Wilmington community," the new owner said in a release. "OnDeck is honored to inherit that legacy and is committed to enhancing the Blue Rocks’ strong established community foundation."
The Blue Rocks become OnDeck's first High-A affiliate. The Wilmington team serves as the Washington Nationals' High-A club, with players typically three levels from the majors. OnDeck's other teams are the Double-A Montgomery Biscuits, a Minnesota Twins affiliate, and the Single-A Visalia Rawhide, an Arizona Diamondbacks affiliate.
Mike Carney, CEO of OnDeck Partners, stressed a desire to stay true to the Blue Rocks' traditions, while also continuing to expand the team's influence on the community. He told Sports Business Journal that there would be no changes to the team's front office staff, instead looking to build on the team's successes.
"We are looking to be additive to all the great things the team is doing on the ground," he said.
Company inherits Blue Rocks' attendance struggles
OnDeck's purchase comes as minor league teams continue to recover from the pandemic. While the Blue Rocks boosted average attendance from 2,630 fans per game in 2024 to 2,666 in 2025, they're still well below the 4,316 they averaged a decade ago.
OnDeck's other teams are facing similar struggles. In a recent report by Baseball America on minor league attendance, the Montgomery Biscuits were among the biggest fallers in attendance over the past year, averaging 357 fewer fans than a year ago, 2,272 compared to 2,629 in 2025.
Despite the tough times, the company explained that they continue to value investing in Minor League Baseball's teams.
"Minor League Baseball teams can be a powerful engine for community engagement and economic growth," the company said in its press release. "The company has invested in enhancing fan experiences, expanding community programming, strengthening local business partnerships, and ensuring the ballpark remains an accessible destination for families and fans of all ages."
Company eyes continued Riverfront enhancement
OnDeck's purchase comes as the Riverfront sees renewed investment, including upgrades to Constitution Yards and the reopening of Iron Hill Brewery. CEO Carney told Sports Business Journal the company sees the Blue Rocks as part of a broader vision for the area around Frawley Stadium.
"Anytime the ballpark can be the center of entertainment, and it can be part of a bigger plan that the municipality is already putting in place, that’s really where our sweet spot is, and that’s what Wilmington is," he said.
The team's lease with the city expires in 2030, after an extension in 2023.
"We're committed to serving this iconic franchise, while partnering with the RDC to enhance the fan experience and drive growth across the region," Carney said.
Adam Denn is an intern reporter for Delaware Online/The News Journal. You can reach him at [email protected].
This article originally appeared on Delaware News Journal: Wilmington Blue Rocks purchased by billionaire-led sports company