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MEMPHIS, Tenn. — To say the Memphis Redbirds had a great day on Wednesday would be an understatement.

During a news conference, the club introduced its new principal owner, Peter Freund.

“I cannot wait to get to work and am looking very forward to connecting with Redbirds fans and the entire Memphis community,” Freund said.

Freaund himself is no stranger to baseball operations, being the principal owner of Trinity Baseball Holdings.

He is a minority owner of the New York Yankees, the principal owner of the Williamsport Crosscutters, and the co-owner of the Charleston RiverDogs.

When the deal was first announced in March, WREG learned the St. Louis Cardinals, who decided against buying a majority interest in the team, will still hold a minority stake.

The team will also continue to be the Triple-A Affiliate of the Cardinals.

“While we were not actively looking to sell a stake in the team, after meeting Peter we immediately knew that partnering with him would strengthen the Memphis Redbirds and be a win for everyone involved,” Bill DeWitt Jr., Chairman and CEO of the St. Louis Cardinals said back in March.  “To have someone of Peter’s caliber and track record of success in minor league baseball willing to make this investment further solidifies the revitalization of this flagship franchise and baseball in Memphis.”

On Tuesday, the Redbirds said having Freund on board will not only enhance the financial foundation of the team, it will also strengthen the daily management of the club.

After Freund was recognized by the organization,  Cardinal’s General Manager John Mozeliak announced the MLB team would continue working with the Redbirds and extend its Player Development Contract beyond the 2020 season.

“Memphis is a great baseball city, and AutoZone Park is one of the premiere ballparks in the game,” Mozeliak said. “We are thrilled that our players will continue to compete in this beautiful stadium and in front of these fans.”

The Redbirds have been the Triple-A affiliate of the Cardinals since 1998.

The team opens the season Thursday night at home against Colorado Springs.

The game is scheduled to start at 7:05 p.m.

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