The Adelaide Football Club has finalised the sale of its baseball franchise in a deal that will see the Adelaide Giants continue to flourish.

Leading property developer Pelligra has purchased the licence for the team which competes in the Australian Baseball League (ABL).

The arrangement has been formally approved by baseball’s governing body with Pelligra, which is also a joint owner of South Melbourne FC, taking control of the operations effective immediately.

Crows CEO Tim Silvers said there had been detailed discussions with a number of interested buyers in recent weeks.

“While our Club is embarking on a different strategic direction, we were determined to find a new owner who could drive further growth for the Giants and baseball in general,” Silvers said.

“Pelligra has pre-existing relationships and a footprint in the sports and entertainment industry, as well as resources and a long-term vision to deliver positive outcomes.

“Importantly, the Giants have many hard working and talented players, coaches and staff, and their contracts will be honoured which should ensure a smooth transition.”

Pelligra Chairman Ross Pelligra said the company was committed to helping strengthen and grow the South Australian sporting landscape.

“We are excited for what lies ahead and the role we can play in building baseball from the grassroots up,” Pelligra said.

“We are keen to add to the efforts of those before us and our immediate and major focus will be on supporting the team this coming season.”

The Crows took control of the baseball franchise in 2018 when it was known as the Adelaide Bite.

The successful rebrand to the Giants was among a number of achievements, along with the team rising up the standings to be consistently competitive and featuring in a championship series.

Baseball Australia CEO Glenn Williams said the ABL was entering an exciting new era and the League was thrilled to have Pelligra join the baseball family.

“The Adelaide Football Club have built the Giants into a force on and off the field and Pelligra is a perfect fit to further drive the club’s growth,” Williams said.

“They have outlined an exciting vision, both in the short and longer term, that is extremely exciting for Giants fans and the wider South Australian baseball community.”