Harbinger takes minority ownership stake in MLB’s Athletics
- The transaction also marks the first investment for Harbinger’s inaugural fund and the first centered on the Las Vegas sports market
- According to people familiar with the transaction, Harbinger was the only private equity firm invited to participate in the financing
Harbinger Sports Partners has acquired a minority ownership stake in Major League Baseball’s Athletics based in Las Vegas. No financial terms were disclosed.
The transaction is part of the club’s completed equity financing for construction of its new ballpark on the Las Vegas Strip.
The transaction also marks the first investment for Harbinger’s inaugural fund and the first centered on the Las Vegas sports market.
“Las Vegas represents one of the greatest sports investment opportunities of our generation,” said Rashaun Williams, founder and chief investment officer of Harbinger Sports Partners. “We’re not simply investing in a baseball franchise. We’re investing in a city that has fundamentally changed the economics of professional sports.”
According to people familiar with the transaction, Harbinger was the only private equity firm invited to participate in the financing.
