The owner of the Norfolk Tides, the Triple-A affiliate of the Baltimore Orioles, is in the process of finalizing a sale of the club to new owners Diamond Baseball Holdings.

The deal, which the club announced Tuesday, is still subject to league approval and other standard closing conditions, although the Tides said the transaction is expected to be completed promptly.

The deal doesn’t change Baltimore’s affiliation with the Tides, a partnership that dates to the 2007 season. A spokesperson for Diamond Baseball Holdings said the Tides’ player development agreement with the Orioles runs through 2030.

Ken Young, the current owner who bought the Tides in 1992, will remain in an advisory capacity with the club. The rest of the front office staff will also remain in place.

Diamond Baseball Holdings owns multiple minor league teams across the country, and they continue to expand. In September, Diamond Baseball Holdings completed the purchase of the Birmingham Barons, the Double-A affiliate for the Chicago White Sox. Also on Tuesday, the Albuquerque Isotopes, the Triple-A affiliate of the Colorado Rockies, announced they were purchased by Diamond Baseball Holdings.

Now, Diamond Baseball Holdings owns at least 20 minor league clubs around the country.

The Tides’ roster has been bolstered by the talent within Baltimore’s farm system. They won the Triple-A national championship this season with the help of top prospect Jackson Holliday and other highly ranked players, such as Colton Cowser, Coby Mayo, Kyle Stowers and Connor Norby.

In addition, attendance at Harbor Park in Norfolk, Virginia, has reached its highest totals since 2008, according to the Tides.

“The Tides are stronger than we’ve ever been, and it feels like the right time to pass the baton to Pat, Peter, and the DBH team to carry forward the rich history of professional baseball in Norfolk,” said Young, president of the Tides, in a statement. “Thank you to the Norfolk community and our fans for so many incredible years. I am confident that there is so much more to come for this club and am excited to see what Joe and the front office will do next with the support of DBH and in continued partnership with the Baltimore Orioles.”

One of the first major considerations for Diamond Baseball Holdings will be to secure a new lease at Harbor Park. The current lease is set to expire in 2024. The Tides have played at Harbor Park since 1993.

“The Orioles want to thank Ken and his ownership group for the outstanding partnership over our last 17 seasons in Norfolk,” said Kent Qualls, director of minor league operations for the Orioles, in a statement. “We look forward to continuing our affiliation with the Triple-A National Champion Tides under DBH’s new ownership.”

andy.kostka@thebaltimorebanner.com