Oakland Ballers launch crowdfunding campaign to save baseball in Oakland
From CNBC: 2024-08-13 08:00:01
Paul Freedman, co-founder and CEO of the Oakland Ballers, has taken on a new venture to save baseball in Oakland. Born out of his love for the A’s, which are leaving for Las Vegas, the Oakland Ballers are a Pioneer League team working to provide a community-focused baseball experience.
Freedman’s investment in the Oakland Ballers includes $1 million in team equity and an additional $5 million loan. To expand ownership and raise funds, a crowdfunded financing round is offering fans direct equity, providing an opportunity for individual investors to be involved in the success of the team.
The fundraising campaign for the Oakland Ballers has garnered significant interest from potential investors, highlighting the community’s dedication to supporting baseball in Oakland. The team plans to use the funds for general baseball operations, particularly focusing on marketing efforts to increase engagement and popularity.
Challenges for the Oakland Ballers include improving the perception of safety around the team’s stadium at Raimondi Field in West Oakland. Working with local businesses and officials, Freedman is determined to create a positive and inviting atmosphere that will draw more fans to support the team and contribute to the revitalization of the area.
Despite facing obstacles, the Oakland Ballers have seen success in their inaugural season, with a strong record and playoff contention. As the only professional baseball team left in Oakland after the A’s departure, the team aims to provide a valuable and engaging baseball experience for the community through innovative approaches and local partnerships.
Read more at CNBC: Oakland B’s Pioneer League baseball launches crowdfunding campaign