Former Major League Baseball (MLB) pitcher Park Chan-ho speaks during a presentation in Seoul, Monday, announcing an investment by his consortium Team61 into an MLB club, the Athletics. Yonhap
A consortium led by former Korean pitcher Park Chan-ho has bought a stake in a relocating Major League Baseball (MLB) club, marking the first instance of a Korean investment into a big league team.
Park announced Monday his consortium, Team61, has signed a strategic partnership with the Athletics, a team previously based in Oakland, California, from 1968 to 2024. They are currently playing in another California city, West Sacramento, and will relocate to Las Vegas in 2028.
Park said his consortium will make an investment of $70 million. The first installment of $55 million has been completed, while the consortium is awaiting MLB approval of the remaining $15 million, Park added.
As part of the partnership, Park will also become senior adviser to the Athletics' owner, John Fisher, providing consultation on player development and the club's strategies in Asia.
