Athletics hire investment banker to secure $500 million in private financing [Los Angeles Times (CA)]
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Source: Los Angeles Times
provide team owner John Fisher with $500 million toward a new ballpark on the Las Vegas Strip. Nevada legislators last June approved $380 million in public funding toward the estimated $1.5-billion cost of the ballpark, with the A's responsible for the balance, but access to the public money requires disclosure of a financing plan for the balance of the cost. The A's have hired Galatioto Sports Partners to attract an investor — or several — to put in that $500 million, in exchange for a share of ownership, according to people familiar with the matter not authorized to speak publicly about it. The firm has worked on more than 100 sports financing deals, and the firm's website describes founder Sal Galatioto as “the industry's leading sports banker.” When the Walt Disney Co. sold the Angels and Mighty Ducks , Galatioto brokered the deals. Fisher has sought to sell a minority interest in the A's for months . Steve Hill, the chairman of both the Las Vegas Stadium Authority and the
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