Park Chan-ho, known as the 'Korean Express,' has achieved a new milestone as the first Korean investor in a Major League Baseball (MLB) team, following his title as the first Korean MLB player.
On July 27, Park led an investment consortium named Team 61, which announced a strategic partnership with the Oakland Athletics at a press conference held at the Grand InterContinental Seoul Parnas in Gangnam, Seoul.
Through this partnership, Team 61 will invest a total of $70 million in the Athletics. Of this amount, $55 million has already been executed, while the remaining $15 million will be finalized pending approval from the MLB office. Once the investment is complete, Team 61 will hold approximately 3% of the Athletics' equity, marking the first time Korean capital has secured a stake in an MLB team.
Park will also have a direct role in the team's management. He will join the Athletics as a senior advisor to owner John Fisher, providing guidance on player scouting and development, establishing strategies for the Asian market, and building new fan engagement.
“During my playing days, I learned how small connections could lead to significant changes while promoting Korea in the MLB and introducing Major League Baseball to domestic fans,” Park said. “Korea is a baseball powerhouse with an excellent fan and player development system. I hope that through our engagement with Las Vegas, more opportunities will open for future generations.”
Team 61 includes around 30 investors, featuring Hollywood actors Ken Jeong and Daniel Dae Kim. The Athletics have been seeking investments as they prepare to relocate to Las Vegas, Nevada, in 2028 and build a new stadium.
Ken Jeong remarked, “Park Chan-ho is a barrier breaker as the first Korean Major Leaguer. Now, he is breaking new barriers in baseball, and as someone who has witnessed his work, how could I refuse the opportunity to work with him?”
The Athletics' leadership expressed strong optimism about the partnership's potential for engaging with the Asian market. Owner John Fisher stated, “Just as Park Chan-ho paved the way for Korean and Asian players in the U.S., I believe this partnership will have a long-lasting positive impact. Baseball connects people across cultures, generations, and the globe. Today, we see what such connections can achieve.”
Mark Badain, president of the Athletics, added, “We hope our team will have the opportunity to play in Korea and that a Korean baseball team will compete in Las Vegas.”
Park Chan-ho made his MLB debut with the Los Angeles Dodgers in 1994 and recorded a total of 124 wins by 2010, a record that still stands for the most wins by an Asian pitcher.
* This article has been translated by AI.
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