Mark Cuban's Investment Group Buys a Minority Stake in the Athletics Ahead of Las Vegas Move
Harbinger raised more than $460 million for sports stakes and sees Las Vegas as a growing market for major franchises, the firm said.
- On Thursday, Harbinger Sports Partners, an Atlanta-based private equity firm led by billionaire Mark Cuban, announced it purchased an undisclosed minority stake in the Athletics as the Major League Baseball team prepares for its 2028 move to Las Vegas.
- Harbinger, a sports-focused private equity firm launched last May, raised more than $460 million to target minority stakes in major U.S. professional sports franchises. Founder Rashaun Williams said the firm is investing in a city that has "fundamentally changed the economics of professional sports."
- The Athletics currently play at a Triple-A ballpark in West Sacramento, California, while awaiting completion of a $2 billion, 33,000-capacity domed stadium on the Las Vegas Strip, with construction expected to finish before the 2028 season.
- Seeking to raise up to $550 million, the Athletics previously sold minority stakes to Aramark Sports + Entertainment and a South Korean group. Spokeswoman Catherine Aker said Harbinger is a "valuable addition" to the ownership group.
- Harbinger General Partner Jonathan Mariner, a former Major League Baseball chief financial officer, said teams "are undervalued." He expects upcoming media rights and labor negotiations to "reshape the league's economics and push team valuations higher.
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Mark Cuban, minority owner of the Dallas Mavericks, has purchased a stake in the Athletics baseball team through Harbinger Sports Group.
The media entrepreneur Mark Cuban, an exactionist majority of the Dallas Mavericks, expanded his experience in the sports sector by becoming a minority partner of the Athletics of the MLB. Despite being detached from most of the shares he owned from the Texan franchise of the NBA, Cuban still retains a small share. Cuban acquired a percentage—without specifying how much—of the Athletics through Harbinger Sports Partners, an investment fund that …
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