Global investment firm Sixth Street has completed a deal to buy a stake of roughly 10% in Major League Baseball's (MLB) San Francisco Giants.
The deal – which was brokered by The Raine Group – adds to existing Sixth Street investment tie-ups with sports properties such as Spanish soccer giants Real Madrid and Barcelona, as well as with the San Antonio Spurs of basketball’s NBA.
Go deeper with GlobalData
The Giants are currently owned by a group of investors, including fellow private equity firm Arctos, which owns around 2%.
The investment, it has been claimed, will allow the franchise to deliver a “best-in-class experience in and around Oracle Park,” with reports claiming the aim is for the Giants to now embark on a full upgrade of that home venue, where the team has played for the last quarter-century.
The last valuation of the Giants, conducted by Forbes at the start of the 2024 campaign, valued the Californian franchise at $3.8 billion.
Larry Baer, president and chief executive at the Giants, has said: “This is our first significant investment in three decades and Greg Johnson and our ownership group are thrilled that Sixth Street believes, just as we do, in our strategic vision for our future as one of the world’s leading sports and entertainment franchises, as well as the important role our organization plays in uplifting San Francisco and the entire Bay Area.”
Oracle Park (named as such since 2019) was completed in time for the 2000 MLB season, with significant renovation work then undertaken in 2000.
The Giants missed out on the post-season playoffs in 2024 – for the sixth year in seven. They get their 2025 regular season campaign underway on March 27 in Cincinnati.
Alan Waxman, Sixth Street’s co-founder and chief executive, added: "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.
"We believe in Larry and the leadership team’s vision for this exciting new era, and we’re proud to be partnering with them as they execute the next chapter of San Francisco Giants success.”
In terms of overall private equity investment in the MLB, over half the league's 30 sides now have similar agreements in place.
Arctos also has deals in place with the Houston Astros and San Diego Padres, for example.
Sixth Street, meanwhile, announced in January that it would be launching a multi-club ownership group (MCO) dedicated to women’s soccer – called Bay Collective – in 2025.
The investment heavyweight unveiled that this group will be led by Kay Cossington, currently women’s technical director at England’s Football Association (FA), as chief executive. She will also serve as head of global women’s football at Sixth Street.
Cossington will remain at the FA in her current role until May 31.
When it officially launches, Bay Collective will first support Bay FC, the Californian club in the US National Women’s Soccer League (NWSL) co-founded and backed by Sixth Street.
