BTS' SUGA set to invest in MLB's The Athletics alongside baseball legend Park Chan Ho
According to a several media reports on July 4 KST, the rapper is said to be joining forces with South Korean baseball legend Park Chan Ho as an investor in the MLB team The Athletics, formerly known as the Oakland Athletics.
$70 million investment through private equity fund
The investment will be made through a private equity vehicle founded by Park Chan Ho's sports management firm, Team 61, which has obtained a $70 million USD contract. The fund intends to purchase approximately 2-3% of freshly issued shares of The Athletics, directly supporting the team's stadium development project.
Joining Park and SUGA in the fund are several other prominent figures, including Lee Man Deuk, president of Samchully Co., Ltd., and Mike Joo, Chief Operating Officer of Bank of America Merrill Lynch's investment banking division.
The Athletics prepare for a new chapter in Las Vegas
The Athletics, a renowned League Baseball organization founded in 1901 with nine World Series championships, are currently undergoing a dramatic transition. Under the ownership of American investor John Fisher, the team will relocate from Oakland to Las Vegas, Nevada, with a new stadium planned to open in 2028. A groundbreaking ceremony was held in late June, and efforts are currently underway to raise the estimated $1.75 billion required for the building.
What will Park Chan Ho and SUGA bring to the table?
With their investment, Park Chan Ho and SUGA are likely to become big stockholders. Park, the first South Korean to play in the MLB, may play an active role in the team's development, possibly by scouting or sponsoring Korean talent in the league. Meanwhile, SUGA's presence has spurred conjecture about potential promotional collaborations or global fan interaction, bringing new life to the team's rebranding efforts as they prepare for their Las Vegas debut.
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