Giants Sell reported 10% participation to the private equity company Sixth Street

The San Francisco Giants sold a reported 10% participation of the team to the private equity company Sixth Street.

The team confirmed the deal on Tuesday, but not the amount of the investment, which was first reported by the New York Times on Monday.

Sportico places the value of the franchise and its team holdings at $ 4.2 billion.

The investment of Sixst Street, reported on Monday, is approved by Major League Baseball in the training of Oracle Park and in the Giants training facilities in Scottsdale, Arizona, as well as Mission Rock, the team of real estate development in McCovey Cove.

The President and CEO of Giants, Larry Baer, ​​called it the “first significant investment in three decades” and said the money would not be spent on players.

“This is not about a supply for the next Aaron judge,” said Baer of the New York Times. “This is about improvements in the baseball stadium to bring big bets on San Francisco and the community around us and the firepower to bring us to the next generation.”

The Sixth Street is the main owner of the National Women’s Soccer League Franchise Bay FC. Investments in the San Antonio Spurs of the NBA and the Spanish football powers Real Madrid and FC Barcelona are also made.

“We believe in the future of San Francisco, and our sports franchise companies such as the Giants are critical ambassadors for our city of innovation and show the world what was only possible here,” said Alan Waxman, co-founder and CEO of sixth street, in the press release. “We believe in Larry and the vision of the management team for this exciting new era, and we are proud to work with them while performing the next chapter of the success of San Francisco Giants.”

The Sixth Street was founded in 2009 and based in San Francisco and has assets of $ 100 billion.