Mark Cuban swaps the basketball for a baseball bat: He becomes a minority owner of the Athletics
The businessman, a former majority owner of the Dallas Mavericks, is expanding his experience in the sports industry through Harbinger Sports Partners.
Mark Cuban, during his time as majority owner of the Dallas Mavericks
The high-profile businessman Mark Cuban, former majority owner of the Dallas Mavericks, has expanded his experience in the sports industry by becoming a minority partner in the Athletics of the MLB.
Despite selling off most of the shares he owned in the Texas franchise of the NBA, Cuban still retains a small stake.
Cuban acquired a stake—the exact percentage undisclosed—in the Athletics through Harbinger Sports Partners, an investment fund he chairs and in which he isa general partner.
The group's board of directors also includes former MLB chief financial officer Jonathan Mariner and the vice president of AMB Sports and Entertainment—an entity closely linked to the Atlanta Falcons (NFL)—Steve Cannon.
Despite this transaction, John J. Fisher will remain the Athletics' largest shareholder. "We are pleased to welcome Harbinger Sports Partners as an investor in the Athletics. The experience of its executives in the sports, media, and entertainment sectors, combined with their long-term perspective, makes them a valuable addition to our ownership group," he said in a statement reported by ESPN.
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