LAS VEGAS — A newly formed investment firm that counts former Dallas Mavericks owner Mark Cuban among its members has acquired a minority ownership stake in the Athletics, positioning itself ahead of the team’s planned relocation to Las Vegas in 2028.
Harbinger Sports Group made the announcement Thursday, though the company did not disclose the exact percentage of the team it now owns. Cuban, who still holds a minority stake in the Mavericks, serves as general partner and president of the Atlanta-based firm. Rashaun Williams, a minority owner of the Atlanta Falcons, is the group’s founder and chief investment officer.
Also among the leadership team is co-founder and CEO Steve Cannon, who serves as vice chairman of AMB Sports and Entertainment — the organization that manages Mercedes-Benz Stadium and the Falcons. Managing partner Jonathan Mariner previously served as the chief financial officer for Major League Baseball.
Cuban summed up the group’s goal simply: “We are minority investors looking to make our investors a lot of money.”
John Fisher, the majority owner of the Athletics, is overseeing the construction of a $2 billion, 33,000-seat domed stadium on the Las Vegas Strip.
The team welcomed the new investors in a statement, saying: “We are very pleased to welcome Harbinger Sports Partners as an investor in the Athletics. The experience of their principals across sports, media, and entertainment, combined with their long-term perspective, makes them a valuable addition to our ownership group as we work to build the future of the franchise in Las Vegas.”
This marks Harbinger’s first investment since its founding, and the group has raised more than $460 million in less than six months. The firm described its stake in the Athletics as part of “a long-term strategy centered on the Las Vegas sports market.”
Williams expressed strong confidence in the Las Vegas market, stating: “Las Vegas represents one of the greatest sports investment opportunities of our generation. We’re not simply investing in a baseball franchise. We’re investing in a city that has fundamentally changed the economics of professional sports.”
Harbinger pointed to the growing valuations of the NFL’s Raiders and NHL’s Golden Knights as evidence of Las Vegas’s impact on professional sports. The Raiders relocated from Oakland in 2020, while the expansion Golden Knights began play in 2017. The group expects the Athletics to experience a similar boost in value.
Williams added: “Our conviction is simple. The next decade of sports ownership will look very different than the last. We believe Las Vegas will sit at the center of that transformation, and Harbinger intends to be one of the firms helping shape its future.”
For now, the Athletics are playing their second of three scheduled seasons at a minor league ballpark in West Sacramento, California, while their permanent home is being built. Team officials have said the new Las Vegas stadium remains on schedule to open for the 2028 season, with construction already visible on the upper deck.
Cannon, drawing on his experience overseeing Mercedes-Benz Stadium, spoke highly of the project: “The new ballpark will be more than a baseball stadium. It will become a year-round entertainment venue and another landmark destination on the Las Vegas Strip.”
