An investment group spearheaded by Mark Cuban, the former owner of the Dallas Mavericks, has purchased a minority stake in the Oakland Athletics. The acquisition comes as the Major League Baseball team prepares for its relocation to Las Vegas, a move anticipated in 2028.
Harbinger Sports Group, an Atlanta-based entity, announced the investment on Thursday. The specific percentage of the Athletics acquired by the group was not disclosed. Cuban, who retains a minority interest in the Mavericks, will serve as the general partner and president of Harbinger Sports Group. Rashaun Williams, a minority owner of the Atlanta Falcons, founded the group and holds the position of chief investment officer.
Steve Cannon, co-founder and CEO of Harbinger Sports Group, also serves as vice chairman of AMB Sports and Entertainment, the entity overseeing the Atlanta Falcons and Mercedes-Benz Stadium. Jonathan Mariner, a managing partner with the group, previously held the role of chief financial officer for Major League Baseball.
"We are minority investors looking to make our investors a lot of money," Cuban stated.
The Athletics are currently playing the second of three scheduled seasons at a Triple-A ballpark in Sacramento, California, while their future home stadium in Las Vegas is under construction. The team's majority owner, John Fisher, is overseeing the development of a new $2 billion, 33,000-capacity domed stadium on the Las Vegas Strip.
In a statement, the Athletics organization welcomed the new investors. "We are very pleased to welcome Harbinger Sports Partners as an investor in the Athletics," the team said. "The experience of their principals across sports, media, and entertainment, combined with their long-term perspective, makes them a valuable addition to our ownership group as we work to build the future of the franchise in Las Vegas."