According to an exclusive report on July 4 KST, South Korean baseball legend Park Chan Ho and BTS member SUGA will be investing in the American Major League Baseball team The Athletics, formerly known as the Oakland Athletics.
It’s known that The Athletics, owned by American businessman John Fisher, is currently in the process of relocating to a new home in Las Vegas, Nevada, by 2028. The team recently held a groundbreaking ceremony to mark the first steps in the construction of its new stadium in late June and is now securing the necessary funds for the massive construction project.
And now, according to the South Korean investment banking industry, Park Chan Ho’s sports management agency Team 61 has made a deal to invest 70 million USD in The Athletics and its new stadium. Team 61 will set up a private equity fund, and then acquire approximately 2~3% in new shares issued by The Athletics through the investment.
In addition to Park Chan Ho, the private equity fund’s investors will include SUGA of BTS, Lee Man Deuk, president of ‘Samchully Co., Ltd., Mike Joo‘, COO of ‘Bank of America Merrill Lynch‘ investment banking branch, and more.
The Athletics, established in 1901, boasts impressive records in American MLB history, with a total of 9 World Series championship titles. However, the team has been struggling on the field and financially. In order to revitalize the team’s image, The Athletics will be leaving Oakland, its home since 1968, in search of a new home and a new start. It’s estimated that the construction of the new stadium in Las Vegas will cost around 1.75 billion USD.
As investors in the team’s ongoing home stadium construction project, Park Chan Ho and SUGA will soon become major shareholders for The Athletics. Many are curious to know if Park Chan Ho, the first ever South Korean baseball player to play for the American Major League, will assume an active role in the management of The Athletics through this partnership, such as by recruiting more talented Korean players into the MLB. Others are also curious to see the impact that SUGA will have as a public figure soon-to-be affiliated with the team, raising speculations of potential collaboration projects.
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