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A consortium led by former Major League Baseball pitcher Park Chan-ho, the first South Korean to play in the big leagues, has acquired a stake in the Athletics, Yonhap News Agency reported Monday. The investment marks the first instance of South Korean capital buying into an MLB club, according to the wire service.

Park, who debuted with the Los Angeles Dodgers in 1994 and won 124 games over a 17-year career with seven teams, announced the strategic partnership between his consortium, Team61, and the Athletics at a press conference in Seoul. As part of the deal, Park will serve as senior adviser to Athletics majority owner John Fisher, providing consultation on player development and the club's strategies in Asia.

Coverage comparison

Yonhap News Agency, South Korea's leading wire service, provided the only coverage of the announcement among the materials reviewed. Multiple reports from Yonhap, published on the same day, offered consistent details on the investment amount, the consortium's membership, and Park's new role, while each focused on different aspects of the story — one on the financial and strategic details, another on the biographical journey behind the deal, and a third on the involvement of actor Ken Jeong.

Key claims

  • The consortium Team61, named after the jersey number Park wore throughout his career, will invest US$70 million in the Athletics. The first installment of $55 million has been completed, while the remaining $15 million is pending MLB approval, Park said at the press conference.
  • The Athletics have been valued at about $2 billion, according to Yonhap. Other minority owners include Harbinger Sports Partners, a group led by Dallas Mavericks owner Mark Cuban.
  • Park will become senior adviser to Fisher, providing consultation on player development and the club's strategies in Asia.
  • Park was the first South Korean player in MLB, debuting with the Los Angeles Dodgers in 1994. He won 124 games over a 17-year career for seven clubs.
  • Team61 includes Korean American actors Ken Jeong and Daniel Dae Kim. Jeong, who appeared in "The Hangover" trilogy and "Crazy Rich Asians," joined Park as a partner.
  • The Athletics, formerly based in Oakland, California, are currently playing in West Sacramento and will relocate to Las Vegas in 2028.
  • Park said the investment aims to create new opportunities for South Korean companies in Las Vegas, particularly in connection with the opening of a new $2 billion dome in the city.
  • Park also expressed hope to send more South Korean players to MLB and build programs that will ensure sustainable growth for youth baseball in South Korea.
  • Park described the investment as a "bridge" between South Korea and the United States, adding that it is "not merely a financial investment."
  • John Fisher said the partnership reflects baseball's ability to connect people across the world and represents a long-term commitment to growing the Athletics' global reach, as quoted by Yonhap.
  • Marc Badain, who was also involved in the announcement, expressed a desire to play games in South Korea and invite Korean teams to Las Vegas, according to Yonhap.

Perspectives

Park Chan-ho — Dream fulfillment and strategic vision

Park said the investment fulfilled a long-held dream of becoming an MLB owner. He recalled admiring former Dodgers owner Peter O'Malley, who traveled to South Korea to recruit him while Park was in college. Park noted he had previously attempted to buy into the San Diego Padres with O'Malley's help but found it "quite difficult" to break into an ownership structure. He said the Athletics' relocation plans created the opportunity. Park met Fisher in 2023 and said they formed a quick friendship. Fisher was sold on the proposal immediately, citing Korean passion for baseball and the Las Vegas market.

Ken Jeong — Cultural milestone and personal honor

Jeong, who joined Team61 as a partner, said the opportunity was one he could not pass up. Speaking at the press conference, he described the partnership as a cultural milestone in sports equity and a "once-in-a-lifetime opportunity" to work alongside Park. Jeong, who is also a former physician, wore an Athletics jersey with the name "Dr. Ken" on the back.

John Fisher — Global growth and connectivity

Fisher, the Athletics' majority owner, extolled the virtues of the partnership, saying baseball connects people across the world and that the deal represents a long-term commitment to growing the Athletics and expanding their global reach, as reported by Yonhap.