For the first time in over a century, the Kitchener Panthers baseball team is not a not-for-profit organization.
The Intercounty Baseball League franchise has been sold, and will operate under a new banner called Waterloo Region Sports and Entertainment (WRSE), run by David and Kate Schooley, and Sam, Naseem and Shanif Hirani, a local family.
The Schooley's also own the KW Titans basketball team, who will also be under the WRSE umbrella.
"Owning two local sports teams allows the group to unite the Kitchener-Waterloo community in a unique way," Schooley said in a news release.
"The Titans and Panthers share the same core values of promoting athletic performance,supporting player development, and fostering connections across our community. We are thrilled to join together and expand the dynamic culture of sports in our region."
Shanif Hirani has also been named the general manager of the Panthers.
Hirani, a former Panthers outfielder, has a Masters degree in sports management from Columbia University.
The release added his "baseball expertise and deep ties to the region will drive the team's long-term success on and off the field."
Details of the sale itself are not known.