In an effort to secure funding for their new Las Vegas ballpark, the A’s have hired Galatioto Sports Partners to help them attract an investor or investors. As part of this partnership, the firm will receive a share of ownership in the team in exchange for their assistance in securing financing. The goal of this collaboration is to obtain $500 million in funding for team owner John Fisher to put towards the construction of the new ballpark.
Last June, Nevada legislators approved $380 million in public funding for the ballpark, which is estimated to cost $1.5 billion. The A’s are responsible for covering the remaining balance of the cost and must disclose a financing plan for this purpose. In order to access this public money, they have been actively seeking investors to purchase a minority interest in the team as part of their overall financing strategy.
Galatioto Sports Partners has been instrumental in helping other sports teams secure funding through similar arrangements, and they are excited about this opportunity with the A’s. They believe that their expertise and experience can help guide the team through this process and ultimately secure the necessary funding for their new ballpark project.