Aramark, the Philadelphia-based food services provider, has recently been in talks regarding potential investment opportunities with the Athletics of Major League Baseball, writes Giles Turner for Bloomberg.
The potential investment could see Aramark put roughly $100 million into the MLB team’s new $1.75 billion stadium. According to people familiar with the project, a similar amount could also go toward the team itself.
The Athletics have been taking part in fundraising efforts to build the roughly 30,000-seat stadium. The total cost to build the new ballpark is about $500 million.
While Gap Inc. heir John Fisher and his family own a majority of the A’s, the sale of new shares has played a part in the fundraising.
The Athletics have played in Oakland, California, since 1968. However, after the city failed to agree on a plan a massive new project, the team made the decision to move to Las Vegas. The project would have included commercial and residential space, along with a new waterfront stadium.
Starting this season, the A’s have been playing its home games in Sacramento, and will return there until their new Las Vegas stadium is complete in 2028.
Aramark has provided food services at the A’s former Oakland stadium, so the ongoing talks aren’t without history.
Read more about the foundation behind Aramark and the Athletics’ investment talks at Bloomberg.
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