Mark Cuban's Group Acquires Stake in Relocating MLB Team
Mark Cuban and his firm Harbinger Sports Partners have acquired a minority stake in Major League Baseball’s Oakland Athletics, which is relocating to Las Vegas. The team will play at a Triple-A stadium temporarily before moving into its new $2 billion domed ballpark on the Las Vegas Strip by 2028. Cuban emphasized that their investment aims to generate returns for investors and brings significant sports management experience from figures like Rashaun Williams, an Atlanta Falcons minority owner. The Athletics’ relocation is central to Harbinger’s strategy, with public financing of up to $380 million supporting the new stadium project. The firm has raised over $460 million toward a $750 million target and plans 10–12 franchise investments in total. MLB team valuations have surged by 12% year-over-year, reaching an average value of $3.17 billion per club.
Topics: investment MLB private equity sports