Athletics hire investment banker to secure $500 million in private financing
The Oakland Athletics have taken another significant step toward Nevada, retaining a major player in sports finance to broker a deal intended to provide team owner John Fisher with $500 million toward a new ballpark on the Las Vegas Strip.
Nevada legislators last June approved $380 million in public funding toward the estimated $1.5-billion cost of the ballpark, with the A’s responsible for the balance, but access to the public money requires disclosure of a financing plan for the balance of the cost.
The A’s have hired Galatioto Sports Partners to attract an investor — or several — to put in that $500 million, in exchange for a share of ownership, according to people familiar with the matter not authorized to speak publicly about it.