The Athletics have hired Galatioto Sports Partners, an investment firm that specializes in sports financing, to scrape together some cash, according to Bill Shaikin of the Los Angeles Times. The Athletics hope Galatioto can secure an additional $500 million in funding that the team can use to build a new ballpark in Las Vegas, Nevada. In exchange, investors would be rewarded with a minority share in the Athletics franchise.
Galatioto's website proclaims that they've "executed assignments" for the following franchises over the last two decades: the Chicago Cubs, Detroit Pistons, Golden State Warriors, Los Angeles Angels, New York Giants, New York Jets, New York Yankees, Oakland Athletics, Philadelphia Flyers, Philadelphia 76ers, San Francisco Giants, and Washington Commanders.
Russ Granik, a former deputy commissioner of the NBA, serves as a vice chairman.
Galatioto's hiring is the latest step in the Athletics' effort to relocate from Oakland to Las Vegas. Last summer, Nevada Gov. Joe Lombardo signed a bill that granted the Athletics $380 million in public financing to put toward their ballpark, which is expected to be located at the Tropicana site on the Las Vegas Strip. (Major League Baseball's owners subsequently approved the A's relocation bid.) The total cost is expected to run about $1.5 billion.
The Athletics recently announced that they would depart Oakland at the end of the 2024 season. For at least the next three years, they intend to play their home games at Sutter Health Park in Sacramento, California. The A's deal with Sacramento includes an option for a fourth season. Construction is expected to begin on the Las Vegas ballpark sometime later this year, suggesting it could be ready for Opening Day 2028.
CBS Sports recently chronicled how Oakland stadium workers were impacted by the news.
Fisher, 62, is the billionaire heir of the Gap clothing company. Forbes estimates his net worth to be around $3 billion.
