OnDeck Partners, the Minor League Baseball operator backed by Marc Lasry’s Avenue Sports Fund, has acquired the Wilmington Blue Rocks, the High-A affiliate of the Washington Nationals, with final approval from the Riverfront Development Corporation. The deal signals OnDeck’s intent to invest in Frawley Stadium and local programming to boost fan experience, community engagement and economic development on Wilmington’s riverfront while continuing the franchise’s charitable legacy.
OnDeck Partners Expands MiLB Portfolio with Acquisition of Wilmington Blue Rocks Jul 21 3 min read Driving Community Value, One Ballpark at a Time [NEW YORK, NY July 21, 2026] – OnDeck Partners, the Minor League Baseball operating company backed by Marc Lasry’s Avenue Sports Fund, today announced its acquisition of the Wilmington Blue Rocks, the High-A affiliate of the Washington Nationals. The acquisition marks a milestone for OnDeck Partners and reinforces the city's position as a vibrant sports and entertainment destination. The sale has received final approval from the Riverfront Development Corporation (RDC), which oversees Frawley Stadium. For OnDeck Partners, the acquisition of the Blue Rocks is about more than baseball. It represents a commitment to one of Delaware’s most beloved institutions and an opportunity to build on the Blue Rocks’ proud tradition while creating new experiences, partnerships, and opportunities throughout the Wilmington community. OnDeck’s approach centers on the belief that Minor League Baseball teams can be a powerful engine for community engagement and economic growth. Across its portfolio, 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. Working alongside community leaders, fans, and local organizations, OnDeck plans to invest in experiences that amplify what makes the Blue Rocks special. OnDeck commits to making Frawley Stadium an even more vibrant destination for entertainment, celebrations, and community events year-round. OnDeck’s community-first approach aligns perfectly with the RDC’s vision for Wilmington’s riverfront. The RDC has shown great vision and leadership in Wilmington's revitalization and economic development. OnDeck is proud to partner with the RDC, using the Blue Rocks as a continued catalyst for Wilmington’s forward progress. "Our focus is building and investing in teams at the heart of their communities, and Wilmington is exactly that," said Mike Carney, CEO of OnDeck Partners. "For over 30 years, the Blue Rocks have been where families create memories. We're committed to serving this iconic franchise while partnering with the RDC to enhance the fan experience and drive growth across the region." OnDeck is deeply grateful to Main Street Baseball, led by Dave Heller, and his partner, Clark Minker, who have been steadfast stewards of the Blue Rocks and Daniel S. Frawley Stadium over the past eleven years. During their tenure, Heller and Minker oversaw numerous ballpark improvements to Frawley Stadium and maintained an unwavering charitable commitment to the Wilmington community, earning the Carolina League's Community Award four times. OnDeck is honored to inherit that legacy and is committed to enhancing the Blue Rocks’ strong established community foundation. To kick off this new chapter, OnDeck Partners will host a Fan Fest on August 4, 2026, to celebrate the team, connect with the community, and share what’s ahead. The free, family-friendly event will include fun for the whole family, including a kids’ zone, music, local entertainment, and treats. The event will take place on the ticket plaza starting at 4:30p ahead of the Blue Rocks taking on the Brooklyn Cyclones. About OnDeck Partners OnDeck Partners, led by CEO Mike Carney, owns and operates the Montgomery Biscuits, Visalia Rawhide, and the Wilmington Blue Rocks, with a mission to transform ballparks into vibrant community hubs. As part of the Avenue Sports Fund, OnDeck focuses on creating fun, affordable, and engaging experiences for fans while strengthening the connection between teams and the communities they serve. Guided by values of integrity, innovation, and community-first thinking, OnDeck Partners is redefining the future of the Minor League Baseball experience. To learn more, visit www.ondeckpartners.com. About the Wilmington Blue Rocks The Wilmington Blue Rocks are a Minor League Baseball team based in Wilmington and the High-A affiliate of the Washington Nationals. Founded in 1993, the Blue Rocks have become a cornerstone of the region’s sports scene, known for their family-friendly atmosphere, creative promotions, and strong community involvement. The team plays at Daniel S. Frawley Stadium and continues to serve as a hub for affordable entertainment and community connection across the Delaware Valley. 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. For More Media Information: The Zimmerman Agency OnDeckPR@zimmerman.com
Curated by Taleb Kabbara · Source: www.ondeckpartners.com
OnDeck Partners, Avenue Sports Fund, Avenue Capital Group, Wilmington Blue Rocks, Washington Nationals, Riverfront Development Corporation, Frawley Stadium, Main Street Baseball, Montgomery Biscuits, Visalia Rawhide, Brooklyn Cyclones, The Zimmerman Agency
OnDeck Partners: OnDeck Partners is a Minor League Baseball operating company that acquired the Wilmington Blue Rocks and owns and operates multiple MiLB teams as part of a community-focused portfolio.
Avenue Sports Fund: Avenue Sports Fund is an investment fund that backs OnDeck Partners and focuses on sports investments including debt, preferred equity, minority stakes, and emerging leagues.
Avenue Capital Group: Avenue Capital Group is a global investment firm with over $10 billion in assets under management that houses the Avenue Sports Fund.
Wilmington Blue Rocks: The Wilmington Blue Rocks are a Minor League Baseball team and the High-A affiliate of the Washington Nationals that play at Daniel S. Frawley Stadium.
Washington Nationals: The Washington Nationals are a Major League Baseball team that the Wilmington Blue Rocks serve as a High-A affiliate for.
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