Mark Cuban-backed investment group acquires minority stake in Athletics MLB franchise

Harbinger Sports Group, an investment group including former Dallas Mavericks majority owner Mark Cuban, acquired a minority stake in the Athletics Major League Baseball (MLB) franchise, which is set to move to Las Vegas ahead of the 2028 regular season. 

“We are very pleased to welcome Harbinger Sports Partners as an investor in the Athletics,” the MLB franchise said. 

“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.”

The Athletics will play home games at the future site of the Bally’s Corporation resort-casino on the Las Vegas Strip, but will remain in Sacramento, California until the new development has been constructed. 

Cuban sold his majority stake in the Mavericks to a group which included Las Vegas Sands Chairman and CEO Sheldon Adelson in December 2023 for a deal valued at approximately $3.5bn. 

The 2023 transaction represented the first time the National Basketball Association (NBA) franchise has been controlled by an ownership group with ties to the casino-resort and gambling industry. 

Cuban stated “we are minority investors looking to make our investors a lot of money” when questioned about the minority stake acquisition in the Athletics. 

Las Vegas has also become a popular choice for the NBA's next expansion franchise with Vegas Golden Knights Owner Bill Foley – as well as a group featuring Basketball Hall of Famer Jerry Colangelo – having both expressed interest in submitting a $7bn+ bid to own the team. 

Cuban currently serves as General Partner and President of Harbinger Sports Group, while Managing Partner Jonathan Mariner was formerly MLB CFO. Co-founder and CEO Steve Cannon is Vice Chairman of AMB Sports and Entertainment, which oversees Mercedes-Benz Stadium and the Atlanta Falcons.