Mark Cuban-Backed Group Invests Reported $50M in Las Vegas A’s

A brand new investment group that includes ex-Dallas Mavericks owner Mark Cuban has bought a minority stake in the Athletics in anticipation of the MLB team’s move to Las Vegas in 2028. Harbinger Sports Group did not disclose the size of its stake. However, CNBC’s Mike Ozanian tweeted the amount to be in the ballpark of $50 million, with a post-money valuation of $3.8 billion for the Athletics and their new stadium.

This would mark the first major acquisition for Harbinger since launching late last year. Cuban serves as the new company’s general partner and president, while founder and chief investment officer Rashaun Williams, Atlanta Falcons executive Steve Cannon, and former MLB chief financial officer Jonathan Mariner round out the leadership team.

In its own press materials, Harbinger says it has raised more than $460 million in under six months, toward a $750 million target, giving it plenty of fodder for investments across pro sports. Harbinger is not trying to buy whole teams but rather scoop up modest stakes of 5% in established franchises.

The A’s welcomed the new partners, citing the group members’ experience across sports, media and entertainment as the franchise prepares for its Las Vegas future.

Cuban Sees the Money

In a statement, Williams called Las Vegas “one of the greatest sports investment opportunities of our generation,” arguing that Las Vegas has fundamentally reshaped the economics of professional sports. The firm pointed to the soaring valuations of the Raiders and Golden Knights as evidence that the A’s could see a similar boost once established in Southern Nevada.

Cuban framed the move in more blunt financial terms, saying Harbinger’s goal is straightforward: “We are minority investors looking to make our investors a lot of money.”

Majority owner John Fisher is overseeing construction of the team’s $2 billion, 33,000‑seat domed ballpark on the Strip. The stadium — already rising into the skyline with upper‑deck work underway — remains on track for a 2028 opening, according to club officials. The A’s are currently playing their second of three temporary seasons at a minor‑league park in West Sacramento.

The investment represents part of the Athletics’ efforts to raise capital from minority investors (targeting up to $550 million) to pay for their planned $2 billion Las Vegas stadium (set to open in time for the 2028 baseball season). Other prior minority investors include Aramark and Team61, a South Korean group led by former MLB player Chan Ho park and featuring Suga of K-pop group BTS.

Team61 has already invested $55 million and intends to invest an additional $15 million, pending MLB approval.

All that cash will be put to good use. The A’s recently agreed to take on an additional $45 million in surrounding infrastructure work, including a six‑story parking garage and on‑site utility plant. Those elements were originally tied to a neighboring Bally’s casino resort project that has since encountered delays.