The group was formed in 2021 and says it aims to continue the promotion of Minor League Baseball.
With the sale, the Grizzlies will remain the Single-A affiliate of the Colorado Rockies. Derek Franks will remain President and General Manager.
"We are passing the torch to DBH, Derek and the staff with full confidence that they will preserve and celebrate the fan experience that defines the Grizzlies," said Michael Baker, Managing Partner of Fresno Sports & Events and current owner of the Grizzlies.
Other staff will remain in place as well.
"We are excited to welcome Diamond Baseball Holdings as they work to finalize this sale," said Fresno Mayor Jerry Dyer. "Their investment, tenure and expertise in minor league baseball will greatly benefit both the Grizzlies, and our continued downtown revitalization."