Baseball
Baseball
Chan Ho Park Becomes First Korean Investor in MLB Franchise
Baseball icon Chan Ho Park, a trailblazer as the first Korean to play in Major League Baseball, has now become the first Korean to invest in an MLB franchise. Park's investment is part of a strategic partnership between his investment consortium, Team 61, and the Athletics. This initiative, announced at a press conference in Seoul on October 27, involves a total investment valued at approximately $70 million, or about 102.6 to 102.8 billion Korean Won.
Team 61, which includes figures such as Hollywood actors Ken Jeong and Daniel Dae Kim, has already completed an investment of $55 million, with the remaining $15 million awaiting MLB approval. This investment is expected to secure Team 61 at least a 3% ownership stake in the Athletics, an American League founding club established in 1901, boasting nine World Series titles and fifteen American League championships.
Beyond his financial commitment, Park will also assume the role of Senior Advisor to Athletics owner John Fisher. In this capacity, he will provide counsel on player development and the formulation and execution of the team’s strategy for the Asian region, including Korea. Park indicated that while he won’t have managerial control, his influence as Senior Advisor will extend to scouting, pitcher development, and cultivating new fan bases for the club.
Park expressed his hope that this partnership will serve as a bridge between Korean baseball and the global stage, anticipating the possibility of Korean players joining the Athletics. He highlighted his intention to leverage his position to impact player scouting and development, particularly for pitchers, and to foster new fan engagement.
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