Mark Cuban's investment group buys a minority stake in the Athletics ahead of Las Vegas move

LAS VEGAS (AP) — An investment group that includes ex-Dallas Mavericks owner Mark Cuban has bought a minority stake in the Athletics in anticipation of their move to Las Vegas in 2028.

Thursday's announcement by Harbinger Sports Group did not say what percentage of the Athletics it had acquired. Cuban, who maintains a minority stake in the Mavericks, is the general partner and president of the Atlanta-based group. Atlanta Falcons minority owner Rashaun Williams is the founder and chief investment officer.

Co-founder and CEO Steve Cannon is vice chairman of AMB Sports and Entertainment that oversees Mercedes-Benz Stadium and the Falcons. Managing partner Jonathan Mariner is the former chief financial officer for Major League Baseball.

“We are minority investors looking to make our investors a lot of money,” Cuban said.

John Fisher is the majority owner of the A's and is overseeing construction of a $2 billion, 33,000-capacity domed stadium on the Las Vegas Strip.

“We are very pleased to welcome Harbinger Sports Partners as an investor in the Athletics,” the team said in a statement. “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.”

This is Harbinger's first investment, according to its news release, and it has raised more than $460 million in less than six months. Investing in the A's is part of “a long-term strategy centered on the Las Vegas sports market,” the group said.

“Las Vegas represents one of the greatest sports investment opportunities of our generation,” Williams said in a statement. “We’re not simply investing in a baseball franchise. We’re investing in a city that has fundamentally changed the economics of professional sports.”

The company touted the success of professional sports in Las Vegas, pointing to the increased valuations of the NFL's Raiders and NHL's Golden Knights since they began playing in the city and saying it expects the A's to receive a similar boost. The Raiders moved from Oakland in 2020 and the expansion Golden Knights launched in 2017.

“Our conviction is simple,” Williams said. “The next decade of sports ownership will look very different than the last. We believe Las Vegas will sit at the center of that transformation, and Harbinger intends to be one of the firms helping shape its future.”

The A’s are playing the second of three planned seasons at a minor league ballpark in West Sacramento, California.

Club officials have said the Las Vegas ballpark is on target to open in time for the 2028 season. The stadium already is becoming part of the city's skyline, with work being performed on the upper deck.

“As someone who helped lead the development of Mercedes-Benz Stadium, I was incredibly impressed with the Athletics’ vision,” Cannon said in a statement. “The new ballpark will be more than a baseball stadium. It will become a year-round entertainment venue and another landmark destination on the Las Vegas Strip.”