The San Francisco Giants have recently sold a 10 percent stake in the team to private equity firm Sixth Street. The deal was confirmed by the team on Tuesday, although the exact amount of the investment remains undisclosed. This transaction, initially reported by the New York Times on Monday, comes as Sportico values the franchise and its related assets at $4.2 billion.
The investment from Sixth Street, which received approval from Major League Baseball on Monday, is earmarked for enhancements to Oracle Park, the Giants’ training facilities in Scottsdale, Arizona, and Mission Rock, a real estate development project situated near McCovey Cove. Giants’ president and CEO Larry Baer described it as the “first significant investment in three decades” and clarified that the funds would not be allocated towards player acquisitions.
Rather, Baer emphasized that the focus is on improving the ballpark, investing in San Francisco and its community, and ensuring the organization’s sustainability for future generations. Sixth Street, which holds majority ownership of National Women’s Soccer League franchise Bay FC, also has stakes in the NBA’s San Antonio Spurs, as well as renowned soccer clubs Real Madrid and FC Barcelona.
Alan Waxman, co-founder and CEO of Sixth Street, expressed confidence in the city of San Francisco and its sports franchises, highlighting the Giants as key representatives of the city’s innovative spirit. He praised the Giants’ leadership team’s vision for the future and expressed pride in partnering with them as they embark on the next phase of success for the San Francisco Giants.
Established in San Francisco in 2009, Sixth Street boasts assets totaling $100 billion, positioning it as a significant player in the investment landscape.
