Shinsegae E-Mart with Wyverns,’Electros’ on KBO subscription

SK Telecom, the parent company of SK Wyverns, has sold its stake in the club to Shinsegae Group. [뉴스1]

Shinsegae Group E-Mart signed a main contract with SK Telecom to acquire SK Wyverns and applied to join the Korea Baseball Commission (KBO). The name’Electros (tentative name)’ was written on the registration application.

According to the industry on the 23rd, E-Mart recently applied to join KBO under the name’Electros’. An official of Shinsegae Group explained, “It is a tentative name written in order to apply for KBO membership without a team name,” and “There is room for change in the future as the name is not confirmed.

E-Mart decided to confirm the club name and notify KBO by the beginning of March when the KBO board of directors is held. Membership is approved after passing the deliberation of the board of directors and obtaining approval of at least 2/3 of the current members at the general meeting. After paying the subscription fee, the process is completed. The amount of the subscription fee has not been confirmed yet.

On this day, E-Mart announced that it had signed a stock sales contract to acquire 100% of SK Wyverns’ shares (1 million common stocks) for 100 billion won. In the announcement, E-Mart announced the purpose of the contract, saying, “We expect synergy through enhancing brand power such as E-Mart and SSG.COM.” The sale of the club’s land and buildings such as the SK Telecom-owned baseball practice range worth 35.2 billion won will be proceeded with a separate contract.

E-Mart plans to announce the emblem and uniform design as soon as the team name is confirmed. Last month, it applied for a trademark right for the name’Electros’.

Reporter Lee Byung-jun [email protected]