The San Francisco Giants have sold a 10% stake to Sixth Street, a private equity firm, to finance substantial renovations at Oracle Park. This move, approved by Major League Baseball, marks the Giants' first significant investment in three decades. Plans include upgrades to the stadium's entrance, creating designated sections for fan clubs, and enhancing premium seating with all-inclusive services. According to CEO Larry Baer, the funds are intended for community and infrastructure improvements rather than increasing player budgets, reflecting a commitment to enhancing the fan experience and promoting San Francisco as an innovative city.
"This is not about a stockpile for the next Aaron Judge," Baer told the New York Times. "This is about improvements to the ballpark, making big bets on San Francisco and the community around us, and having the firepower to take us into the next generation."
According to the New York Times, the Giants are selling about 10% of the team to Sixth Street to help finance some significant upgrades to Oracle Park, the team's training facility in Scottsdale and Mission Rock.
Giants president and CEO Larry Baer called it the "first significant investment in three decades." The new investment was reportedly approved on Monday by Major League Baseball.
"We believe in the future of San Francisco, and our sports franchises like the Giants are critical ambassadors for our city of innovation, showcasing to the world what's only made possible here," Sixth Street co-founder.
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