Paul Freedman and Bryan Carmel co-founded the Pioneer League's Oakland Ballers last year to keep baseball in Oakland as MLB's A's prepare to depart.Now, the organization is crowdfunding for more financing that will give fans the chance to own equity in the team.
Freedman has lived in Oakland for the past 30 years and in that time has witnessed one professional sports team after another depart the city. The NBA's Golden State Warriors ditched what was then Oakland's Oracle Arena in 2019. The NFL's Raiders moved from Oakland to Las Vegas in 2020.
"We're testing the waters here," said Freedman."There could be a dividend. There could be a secondary market. Shares will come with voting rights.", the platform the B's are using to crowdsource the funds, has received an expression of interest from more than 3,500 people who say they would like to invest in the team, with pledges for a combined total of nearly $8 million.
The early interest has inspired inquiries from other local baseball and soccer teams looking to raise money on DealMaker, Stidd said.Freedman plans to use the crowdsourced money for general baseball operations with a particular emphasis on marketing. In its first year, the B's have done about $1 million in merchandise sales, according to the team, and has signed up 47 sponsors, including San Francisco's BART transit system and AAA Insurance.
But he'll have to make sure the B's flourish as a feel-good story, rather than a dreary reminder of what Oakland once had. Even among locals, there's a misperception for how dangerous the area is, Freedman said. He likened the neighborhood to Chicago's Wrigleyville, where the Chicago Cubs play. Freedman said he is developing partnerships and relationships with local businesses to promote the team and hopefully expand entertainment and eating experiences outside the ballpark.