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A's Partner with Investment Firm to Secure $500 Million for Las Vegas Stadium

The Oakland Athletics have engaged Galatioto Sports Partners, a specialized sports financing investment firm, to mobilize funds for their ambitious project, reports Bill Shaikin of the Los Angeles Times. The Athletics are eyeing an additional $500 million in funding, facilitated by Galatioto, to fuel the construction of a new stadium in Las Vegas, Nevada. In return, investors would secure a minority stake in the Athletics franchise.

With a portfolio boasting assignments for renowned sports franchises over the past two decades, Galatioto's expertise spans teams like the Chicago Cubs, New York Yankees, and Golden State Warriors. Notably, Russ Granik, a former NBA deputy commissioner, serves as the firm's vice chairman.

This strategic move by the Athletics marks another milestone in their relocation efforts from Oakland to Las Vegas. Following Nevada Gov. Joe Lombardo's approval of a $380 million public financing bill last summer, earmarked for the ballpark at the Tropicana site, Major League Baseball owners greenlit the A's relocation bid. The project's total cost is estimated at $1.5 billion.

The Athletics have announced their departure from Oakland by the end of the 2024 season, with plans to call Sutter Health Park in Sacramento home for the next three years, with an option for a fourth. Construction on the Las Vegas ballpark is slated to commence later this year, potentially setting the stage for an Opening Day debut in 2028.

The impact of the Athletics' impending move on Oakland stadium workers has garnered attention, as highlighted in a recent report by CBS Sports.


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